Home Highlights June 2014 Year 2014 This

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1. Capital gain computation - As such the assessee has claimed higher value than the fair market value as per the AO. Thus in our considered view, the AO has no power to...

2. Computation of Capital Gains - Exclusion of the portion of the sale consideration that was never received - The High court found that the real income (capital gains)...

3. Computation of LTCG - Based on a reading of Section 50CA of the Act, it is clear that where the actual sale consideration on transfer of unlisted equity shares is less...

4. Recalculation of LTCG and sale of shares - AO does not have power under the Income Tax Act to substitute fair market value for full value of consideration - AT

5. Capital Gain - Transfer u/s 2(47)(v) - assessment year - AO himself has given credit for the amount of capital gains declared for the assessment year 2013-14, while...

6. Short term capital gain - capital gain arose from transfer of land to the partnership firm by way of capital contribution as the assets was converted to Fixed Capital...

7. 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...

8. Undisclosed incomes - investment in Purchase/sale of immovable property - The onus on the department to prove that investment was made by Assessees or sale consideration...

9. Computation of Capital Losses - the statutory provisions do not empower Ld. AO to substitute actual consideration received by the assessee with hypothetical sale...

10. Revision u/s 263 by CIT - Capital gain computation - the out of 100 % sales consideration 95.36 % is offered as capital gain and the claim of the assessee is less than 5...

11. Revision u/s 263 by CIT - Capital gain computation - where the purchase of land & building and sale of land & building are covered under a single deed of purchase &...

12. Capital gain computation - determination of full value of consideration - correct value of consideration - A machinery provision has been introduced by way of Section...

13. Sale consideration for the purpose of computation of capital gain - transfer of reversionary rights in land / TDR - sale value of the consideration taken by the stamp...

14. If the assessee disputes the value as per stamp valuation authority to be substituted in place of sales consideration for the purpose of calculation of capital gain,...

15. Computation of capital gain - slump sale - Long Term Capital Gains - aggregate value of assets for purpose of computing net worth of undertaking in terms of provisions...