Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Wealth-tax - Highlights / Catch Notes

Home Highlights August 2013 Year 2013 This

Nature of the asset - If the construction was partly completed ...

Wealth-tax

August 8, 2013

Nature of the asset - If the construction was partly completed or the building is under construction, in that case the exception engrafted in the definition of the words “urban land“ does not get attracted - In that event the urban land or undivided interest of the assesse continues to be open for taxation within the category of urban land - HC

View Source

 


 

You may also like:

  1. Revision u/s 263 - AS 7 - construction of asset - block of asset is not restricted to building machinery plant or furniture but is extended to know-how patents Copyright...

  2. Net wealth - if the building under construction is not to be regarded as building then the land on which the construction is started will have to be included in the...

  3. Refund claim of input service tax credit - input service or not - Erection, Commissioning & Installation Services - Construction or execution of works contract of a...

  4. Depreciation u/s 32 on boundary wall and other structures - Purpose of the boundary wall is to provide protection and security to the building and other assets of the...

  5. Construction of complex services - the appellant had constructed independent buildings having one residential unit only. Thus, even if the appellant had constructed more...

  6. Capital Gains - Cost of construction and indexation disallowed – proof of construction of building on land - If the examination of balance sheets reveals that there was...

  7. Nature of expenditure on construction of building on leasehold land - the lessor does not own the building and the assessee cannot own the same as capital asset since...

  8. Classification of services - applicability of GST rate - Works Contract - composite supply - receipt of contract for new construction of CBD railway station, platform,...

  9. Disallowance of depreciation on guest house - assessee has claimed depreciation @ 10% on guest house, which is applicable to factory and office buildings - assessee had...

  10. Allowance of depreciation - depreciation on toll road as building - ownership of the assets - depreciation allowed - AT

  11. Capitalization of regularization fee paid - Construction of hospital building - The assessee has rightly booked the payment under the cost of construction of the...

  12. Exemption u/s 54F - If the assessee has invested money in constructing the residential house, merely because the construction was not complete in all respects or such...

  13. Exemption from capital gains u/s 54F - merely because the construction was not complete in all respects or such building is yet to be completed fully or the building...

  14. Nature of expenditure - expenses of loss on account of fire - revenue or capital expenditure - The assessee incurred the expenses to bring the building in the same form...

  15. Depreciation on the let out property - deprecation u/s 32 of the 1961 Act under these circumstances can not be allowed on these two properties merely on the grounds that...

 

Quick Updates:Latest Updates