Assessment of capital gain - transfer u/s. 2(47)(vi) r/w s. ...

Case Laws Income Tax

June 13, 2023

Assessment of capital gain - transfer u/s. 2(47)(vi) r/w s. 2(47)(i) - JV agreement for construction of building/s - Construction nearing completion but delay in payment of consideration - If the assessee hasn't initiated any legal process for cost recovery from the developer, a shortfall in consideration will result in incurring cost to a proportionate extent. If construction is incomplete, the value of consideration must be scaled down accordingly. The details must be clarified by the assessee and examined by the Revenue authorities. The actual cost incurred may not be in the same proportion due to delay, but this is irrelevant for computing capital gain. Any supporting material will be examined and adjudicated upon. - AT

View Source

← Previous Next →

Assessment of capital gain - transfer u/s. 2(47)(vi) r/w s. ...

Case Laws Income Tax

June 13, 2023

You may also like:

Capital Gain - Transfer u/s 2(47)(v) - assessment year - AO himself has given credit for the amount of capital gains declared for the assessment year 2013-14, while...

Capital gains on transfer of shares - sale versus agreement to sale - selection of assessment year - Tribunal committed error in law in holding that Section 2 (47) (vi)...

The ITAT Cochin dealt with a case involving Long Term Capital Gains (LTCG) arising from a Joint Development Agreement (JDA). The tribunal held that the transfer of...

Capital gain - transfer u/s 2(47) - unregistered JD agreement - appellant had not received any consideration - since an unregistered agreement involving the transfer of...

Capital gain - Joint Development agreement (JDA) - Transfer / sale of land u/s 2(47)(v) or not? - - the said execution of land development agreement cannot be a sale of...

Capital gain on JDA - Transfer u/s 2(47) - There was no transfer of property under this JDA. Also without accrual of construction to the assessee, assessee was not...

Capital Gain - Transfer of capital asset u/s 2(47) - year of assessment - since the property was actually transferred in A.Y. 2013-14 the computation of short-term...

Capital gain - compromise settlement for breach of contract - Transfer u/s 2(47) - the compensation received by the assessee arises out of the transfer of capital asset...

Chargeability of capital gains - Year of assessment - Transfer of capital asset u/s 2(47) - The assessee never cancelled the said former development agreement even...

Capital gain - on entering into a JDA, there is a ‘transfer’ as per the provisions of section 2(47) of the Act and consequently capital gains is attracted.

Capital gain – transfer of property where title is not absolute and clear - section 2(47)(v) - the assessee is liable to pay the capital gain tax during the year under...

Assessment u/s 153C - Short Term Capital Gain - transfer within the meaning of section 2[47] - As per the sec.2(47)(i), transfer in relation to capital asset includes...

Long Term Capital Gain u/s 45 - transfer u/s 2(47) - non registration of agreement cannot lead to the conclusion that provision of section 2(47) (v) is not applicable -...

Capital gain - JDA - transfer of capital asset u/s 2(47) - There is no document by which the revenue can come to the conclusion that there was delivery of possession....

Capital gain u/s 45 - capital gain on surrender of leasehold right - Transfer u/s 2(47) or not? - The Tribunal held that, the act of these assessees in not disclosing...

Quick Updates: