Home Highlights February 2014 Year 2014 This

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1. Disallowance of depreciation on composite land and building - depreciation claimed by the assessee on account of office premises at India Habitat Centre - when it is...

2. Addition of undisclosed income arising out of sale of land - on-money - Once, nature and character of land sold is established as agricultural land not to be treated as...

3. Capital gains - nature of land sold - land converted into a barren land to establish an industrial estate - land sold by the assessee through sale deed in favour of...

4. LTCG on sale of agricultural land - Nature of land sold - As the question of distance of the land sold from the outer limit of the Municipal Corporation and other 13...

5. Capital gain on sale of land - Nature of land - it is undisputed fact that assessee has sold agricultural land on which he was carrying out agricultural activities prior...

6. 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...

7. Classification of supply - supply of goods or supply of services - sale of plots - As per entry 5 of Schedule III of SGST Act, sale of land and, subject to clause(b) of...

8. Allowable deduction in computing the capital gains - Expenditure wholly and exclusively in connection with the transfer of the property - There was no mentioning of any...

9. Capital Gains - sale of agricultural land - scope of capital asset u/s 2(14) - the land was sold as an agricultural land and in fact, what was sold was agriculture land....

10. Determination of capital gain - allocation of sale consideration between the land and building - The historical cost of building or WDV of building cannot be...

11. Factory land - asset u/s 2(ea) of the Wealth tax act – There may be situations in which a part of factory land may be sold as ‘land’ but as long as it is a part of the...

12. Levy of GST - activity of disposal of developed plots of land to allottee members - If the applicant sells the land after developing by way of erecting a civil structure...

13. Addition to income from capital gains - Nature of land sold - Anyhow, to meet the ends of natural justice, we direct the assessee to file complete sale deeds of the...

14. When there is a transfer of capital asset being land together with building and where the land is held for a period of more than 36 months and the building held for less...

15. Rectification u/s 254 - Sale of land - land in question were sold by the assessee in the capacity of power of attorney holder and AO has assessed the income in the hand...