Capital gain computation - Allowability of transfer expenses ...

Tribunal Rules Transfer-Related Expenses Are Allowable for Capital Gain Computation u/s 48(i.

March 21, 2024

Case Laws Income Tax AT

Capital gain computation - Allowability of transfer expenses [brokerage, air tickets, hotel accommodation receipts, postal charges receipts, conveyance charges, lawyer fees, photocopying expenses] u/s Section 48(i) - Considering the specific circumstances of the case, where the assessee was a non-resident individual, the Tribunal found that the expenses incurred for obtaining special power of attorney from the Indian Consulate in the USA, air tickets, hotel accommodation, postal charges, conveyance charges, lawyer fees, and photocopying expenses were essential for effecting the transfer of the property. - The ITAT concluded that the claimed expenses were indeed allowable u/s 48(i)

View Source

← Previous Next →

Capital gain computation - Allowability of transfer expenses ...

Tribunal Rules Transfer-Related Expenses Are Allowable for Capital Gain Computation u/s 48(i.

March 21, 2024

Case Laws Income Tax AT

You may also like:

Capital gain computation - lease rental expenses are related to the transfer of slump sale business while computing the capital gain u/s 48(1) or not? - The Tribunal...

Capital gain computation - expenses incurred towards fees paid to KPMG, Khaitan & Co. Bank Charges and other miscellaneous expenses in relation to the transfer of...

Computation of capital gain - claim of expenses u/s 48 - the amount paid by the appellant to the Bank for discharge of the mortgage has to be taken as expenses relating...

Capital gain for sale of rosewood and silver oak trees - computation of cost of acquisition and indexation - capital gain has to be assessed on the basis of Section 48 - HC

Computation of short term capital gain - allowable expenditure u/s. 48 - management fees - The Tribunal observed that there were contradictory decisions regarding the...

Capital gain computation - allowability of the interest for purchasing a capital asset - interest cost for the period for which the capital asset was retained or held by...

Computation of capital gains - deduction u/s 48 or u/s 54 - consideration paid to wife under the condition of separation - should be considered as allowable deduction...

Amendment of section 48 - mode of computation - indexation benefits to long-term capital gains arising on transfer of the said Sovereign Gold Bond extended

Capital gains computation - cost of acquisition relates back to date of transfer through will/family settlement to beneficiary. Determination of indexed cost of...

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...

The ITAT Mumbai addressed errors in capital gain computation. The Assessee's claim of ₹ 859,680 was accepted over the AO's ₹ 791,221. An application u/s 154...

Capital gain on transfer of shares - capital gains arising from the transfer of shares because of family arrangement - the assessee has transferred the shares based on...

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...

Long term capital gain - allowable expenditure u/s. 48(i) - The same land has been sold in the year under consideration giving rise to long term capital gains to the...

The assessee, an NRI and resident of USA, transferred a capital asset and derived capital gain. The asset comprised rights and interests acquired through an assignment...

Quick Updates: