Home Highlights July 2013 Year 2013 This

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1. 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...

2. 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...

3. Capital Gain on the acquisition of Land - Claim of exemption u/s 10(37) - The SDM report categorically mentioned that no compensation for standing crops was given to the...

4. 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....

5. Exemption u/s 54B - Agriculture land - vacant land - if the AO comes to the conclusion that the impugned lands are agricultural lands, still the capital gain arising on...

6. Capital gain on sale of land - Nature of land sold - agricultural land - calculation of shortest route - , although there is no doubt that conflicting reports were...

7. LTCG - capital assets OR agricultural land - at the time of sale the assessee’s land was more than 8 KMs away from the local limits of Municipal Council - assessee’s...

8. Addition on account of long term capital gain - AO has not brought on record any material which establish non-genuineness of the members of the society - all the members...

9. 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...

10. Capital gain - transfer of immovable property without any written contract - in absence of determination of cost of land by state govt., no capital gain can be...

11. Capital gain - nature of land sold - whether the land would not be covered under definition of capital asset as stated in Section 2(14)(iii)? - Despite being directed to...

12. Capital gains - Transfer of property - joint development agreement - capital gains on the assessee’s land correctly brought to tax by the AO - AT

13. Assessment of capital gains on sale of agricultural land or landed property - the assessee’s case clearly falls under clause (b)(ii) to provisions of section 2(14)(iii)...

14. Long Term Capital Gain from sale of land - valid transfer of a capital asset or not? - Possession given or not? - The assessee placed reliance on the “Affidavit” of...

15. Correct head of income - sale of land - “capital gains” or “business income” - In the present case, undisputedly the appellant had made a distinction between those lands...