Revision u/s 263 - LTCG on sale of properties - property had ...

Case Laws Income Tax

June 22, 2023

Revision u/s 263 - LTCG on sale of properties - property had been sold in piecemeal in 14 transactions - stock-in-trade or capital asset - Whether to accept the transactions as being taxable under the Long Term Capital Gain or to reject them and tax them under the head income from business would have been duly considered by the AO at the time of assessment proceedings and the conclusion arrived at by the AO was definitely one of the plausible views - Revision order quashed - AT

View Source

← Previous Next →

Revision u/s 263 - LTCG on sale of properties - property had ...

Case Laws Income Tax

June 22, 2023

You may also like:

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...

Benami Property Transaction - title over the suit properties - Moreover purchase of a property by husband in the name of the wife cannot be called a benami transaction...

Capital gains - treating information contained in ITS as related to transaction of sale of immovable property - Assessee had pointed out how the two transactions...

Revision u/s 263 - provision of s.56(2)(vii)(b)(ii) was applicable - market value of the subject property vs stamp value - the stated sale consideration is not the...

Valuation of property - Herald House, Bahadurshah Zafar Marg, New Delhi - FMV determination - We hold that firstly, the circle rate which has been proposed by the...

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

Capital gain in respect of sale of only one property - addition u/s 50C - assessee itself had leasehold rights in the said property and hence in instant facts, the...

Correct head of income - income earned out of sale of property - business income or capital gains - when the asset was converted into stock-in-trade - the assessee has...

Interpretation of Statute - Prohibition during the moratorium period - the recovery of any property by an owner or less or where such property is occupied by or in the...

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...

Revision u/s 263 - under valuation of closing stock - as a matter of prudence stocks are valued at lower of the cost or the realizable value - increase/decrease in...

Classification of services - real estate agent service or not - sale of agricultural plot - When a person from the first day enters into an agreement to purchase some...

Disallowance u/s 54F - Investment of Sale consideration for claiming exemption on LTCG - Advance was given for purchase of new residential property but the transaction...

Capital gain - legal owner of property - entire funds at the time of purchase of property was paid by his son the entire sale consideration is also received by her son -...

Income from the sale of the property - capital gains or business income - the quantum or number of investments i.e. whether the assessee invested in a single property or...

Quick Updates: