Home Highlights March 2014 Year 2014 This

You may also like:

1. Capital gain computation - cost of acquisition as well as cost of construction - AO has not even attempted to verify the correctness of the cost of land and construction...

2. Capital gain computation - cost of acquisition of the immovable property - The deduction on account of cost of acquisition is to be allowed with reference to the...

3. LTCG - Deduction u/s 54 - Adoption of the cost of acquisition of new asset - - what is to be treated as cost of the residential house is the entire cost of house and it...

4. Validity of reassessment proceeding - Section 29 of the U.P. VAT Act, 2007 - interpretation of statute 'reason to believe' - escapement from tax - deemed sale of...

5. Determination of cost of construction account at CPWD rate - AO directed to allow the rate difference of 15% and supervision charges to the extent of 10% in cost of...

6. Long term capital gain on sale of plot of land - Cost of improvement being the cost of construction of boundary wall - Having regard to the facts and circumstances of...

7. Computation of Long-Term Capital Gain derived from transfer of property - Indexed cost of improvement - The Tribunal observed that the bank's loan appraisal included the...

8. Allowable business expenses - AS 7 on Construction Contracts - in the business of development and construction, the interest cost though allowable have to be accumulated...

9. Undisclosed investment - The assessee failed to maintain quantitative details of major building material used in the construction of the building - In view of the cost...

10. Reopening of assessment u/s 147 - Plainly, in the facts as noted above, no sanction was required to be obtained at the stage of initiation of reassessment proceedings....

11. Computation of capital gain - computation of cost of acquisition - FMV determination - To avoid any miscarriage of justice and to allow a fresh recomputation of "cost of...

12. Validity of reopening of assessment u/s 147 - no notice u/s 143(2) of the Act was issued by the AO for taking case under scrutiny - The Tribunal meticulously examined...

13. Assessment of capital gain - transfer u/s. 2(47)(vi) r/w s. 2(47)(i) - JV agreement for construction of building/s - Construction nearing completion but delay in payment...

14. Validity of reassessment proceedings u/s 147/148 - Unexplained cash credit and application of section 115BB - The ITAT while upheld the reassessment proceedings sicne AO...

15. Estimation of cost of construction - Adopting State PWD rate for construction may be preferable rather than Central PWD rate - AT