Nature of gain on sale of property - LTCG or STCG - Receipt of ...

Case Laws Income Tax

April 7, 2023

Nature of gain on sale of property - LTCG or STCG - Receipt of propter through Gift or POA - Since the gift deed falls under the documents which registration is compulsory as per section 17 of the Registration Act, 1908 the unregistered instrument of gift of immovable property does not have any legal sanctity. Therefore, considering the fact that the above property has been assigned by way of POA in favour of the assessee vide Power of Attorney and the same was sold by the assessee on 18.06.2008, the holding period of the same was not more than 36 months in the hands of the assessee - Lower authorities have committed no error in treating the same as ‘short term capital gain’. - AT

View Source

← Previous Next →

Nature of gain on sale of property - LTCG or STCG - Receipt of ...

Case Laws Income Tax

April 7, 2023

You may also like:

Capital gain on property gifted - Execution of sale deed instead of gift deed wrongly in favor of Daughter in law (DIL) - DIL has not paid the amount as mentioned in the...

Unexplained investment u/s 69 - family transaction - assessee has submitted that the assessee’s husband was a power of attorney holder of the property and could not...

Owner of suit property - joint ownership - legality and validity of the power of attorney and the sale deeds - the sale deeds will have to be held as void being executed...

LTCG - gift of immovable property to daughter - it is argued that, mistakenly instead of gift deed, sale deed was made - assessee failed prove that the same is exemption...

Revision u/s 263 - Transfer of land by wife to her husband - Nature of transaction - Sale or Gift - It is the case of the assessee that sale deed is nothing but gift...

Computation of capital gain - date of holding of property - registered sale deeds OR completion/occupation certificate of the properties - Merely because the occupation...

LTCG or STCG - Sale of ground floor of residential unit - whether it give rise to long term capital gains or short term capital gains - Computation from period of...

LTCG or STCG - AO was right in treating the holding period of the property from the day on which the assessee has got right over the property by virtue of a valid sale...

Recovery proceedings - Attachment orders - rights over the property - seeking transfer of property in favor of purchaser - In this case admittedly the transfer was on...

Capital gain on asset sold - LTCG OR STCG - period of holding - merely because there is a change in the nature of immovable property, the principles of determining date...

Entitled to claim long term capital gain on transfer of rights in the Flats - Deduction u/s 54 against capital gains arising out of sale of flats - the right over the...

LTCG - Receipt of additional amount towards TDR - treatment to receipt of consideration the appellant ceased to be the owner of the property - compensation received for...

Assessee utilized long-term capital gain from sale of immovable property for purchase of new residential property within permissible time period. Purchase consideration...

The case pertains to the validity of reopening of assessment by the Assessing Officer (AO) and the characterization of short-term capital gains (STCG) from the sale of...

Undisclosed incomes - investment in Purchase/sale of immovable property - The onus on the department to prove that investment was made by Assessees or sale consideration...

Quick Updates: