Home Highlights November 2013 Year 2013 This

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1. 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...

2. Taxability of interest income in the hands of Partner instead of Partnership firm - Allegation that assessee did not disclosed the receipt of Interest in his return of...

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

4. 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...

5. Income accrued in India - Capital gain - the new double taxation avoidance agreement has come into force much letter then the transaction took the place. In the new...

6. Capital Gains - Whether land belonged to the ''HUF'' and not to the assessee? - there was no mentioned that the land was being sold by the assessee as Karta of 'HUF' -...

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

8. No separate additions required when assessee has admitted the income in the hands of HUF - AT

9. Addition on capital gain - invocation of provisions of section 50C - Joint Venture (JV) Since the assessee has not received any consideration in lieu of any transfer of...

10. 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...

11. Double taxation of income in the hands of BCCI and Assessee, as the member of AOP - it will be open to the AO of the appellant to reopen the case of the appellant and to...

12. Income of the HUF or individual assessee - Capital gain assessment - obvious from the sale deed that the property in question was undisputedly transferred by four...

13. Computation of long term capital gains - HUF has ever shown the capital asset in question in its books or admitted impugned long term capital gains in its case. -...

14. Double taxation of income - Single TDS certificate for two years - AT

15. Income deemed to accrue or arise in India - interest income - In these years, the interest income has accrued on the deposits kept by the assessees in HSBC bank, Geneva...