Home Highlights January 2024 Year 2024 This

You may also like:

1. Correct head of income - interest on FD and gain of sale of mutual funds invested out of unutilized borrowed fund - interest/gains earned by the assessee company during...

2. Redemption of units of mutual funds - capital gain or business income - the intention for purchase of mutual funds was only for the purpose of investment and held for...

3. Correct head of income - profit on sale of land /immovable property - business income or capital gain income - Correct head of income - profit on sale of land /immovable...

4. Nature of Income – Mutual funds sold - business income or capital gains - units of mutual funds are not freely transferable nor tradable and thus cannot be categorized...

5. Income earned profit on sale of mutual funds - capital gain OR business income - Holding period of the assessee is minimum of 72 days and maximum of 186 days - profit of...

6. Income from other source OR Capital gain - Correct head of income - relinquishing the right acquired under the Agreement by the Assessee - income from relinquishing...

7. Correct head of income - sale consideration received by the assessee from redemption of preference shares including the premium- capital income or income from other...

8. Correct head of income - treatment of income from sale and purchase of shares - business income or income from capital gains - high volume of transactions and frequently...

9. Correct head of income - Business Income or capital gain - assessee decided to sale the agriculture land, due to compulsion, hence assessee cannot be treated as a trader...

10. The case deals with the applicability of Section 54EC of the Income Tax Act, which provides exemption from capital gains tax if the gains are invested in specified bonds...

11. Correct head of income - interest received under Section 28 of the Land Acquisition Act, 1894 - part take the character of the compensation and would fall under the head...

12. Correct head of income - Gain on sale of industrial site - capital gain v/s business income - the same being essentially a finding of fact that the sale of Industrial...

13. Correct head of income - compensation received for vacating the flat - While the assessee argued for capital gain treatment, the Revenue contended it should be...

14. Correct head of income for premium on redemption of privately placed non-convertible debentures (NCDs) is interest income under Income from Other Sources, not capital...

15. Business income vs. capital gain - net surplus shown by the assessee is the capital gain on account of the sale/redemption of the assessee's investment and the same is...