Home Highlights November 2013 Year 2013 This

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1. Correct head of income - income arising on sale of shares held as capital asset after conversion from stock in trade - business income or capital gains - Tribunal erred...

2. Gain on sale of shares - Business income or Capital Gains - Adventure in the nature of trade - Just because the assessee has shifted from the IPOs and has made a...

3. Correct head of income - income earned out of sale of property - business income or capital gains - when the asset was converted into stock-in-trade - the assessee has...

4. Adventure in the nature of trade or sale of capital asset - sale of property after getting the flats constructed - is it a case of coversion of capital assets into stock...

5. Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

6. Sale and purchase of agriculture land - adventure in trade - Merely because of the fact that the land was sold for profit, it cannot be held that income arising from the...

7. Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

8. Computation of capital gain - conversion of Gold in stock in trade and income from other sources - assessee converted the gold into stock in trade on various dates and...

9. Computation of profit - sale of asset after conversion from capital asset to stock-in-trade - Apply the provisions of Section 45(2) of the Act and compute the capital...

10. 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...

11. 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...

12. Capital Gain (LTCG) or Business income - the tests laid down in the decisions support the plea of the Assessee that he did not do any adventure in the nature of trade...

13. Correct head of income - Income from capital gains or business income - the business activity of the assessee is trading in shares, there can be a presumption that the...

14. Correct head of income - Gain on sale of shares - nature of purchase of shares either as “investment” or “stock-in-trade” - AO has not given any clear cut finding that...

15. Correct head of income - Capital gain or business income - income from sale of land - . Merely because, the assessee earned huge profits thereon cannot alone be the...