Home Highlights June 2014 Year 2014 This

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1. Taxability as capital gain or not - Surrender / transfer of tenancy rights - Applicability of section 50C for valuation - The AO treated the transaction as a surrender...

2. Compensation for surrender the tenancy right - tenancy right was a capital asset and surrender of the same was a transfer of a capital asset - HC

3. Receipt on account of surrender of tenancy rights - till the amendment in 1995, the compensation received on surrendering the tenancy rights could not be assessed to...

4. Payment made for surrender of tenancy rights - deduction allowed u/s 37(1) - AT

5. Taxable services - refrain from an act or agreed to tolerate any act - surrender of tenancy rights or benefits - the view of adjudicating authority that ‘capital gains’...

6. Transaction of transfer of tenancy rights - whether the impugned transfer of tenancy rights attracts the provisions of section 50C - held No. - AT

7. Addition u/s 68 - LTCG - it is settled position under the law, that tenancy right is a transferable asset. The assessee received consideration on transfer of said right...

8. Transfer of tenancy right - long term asset or short term asset - the tenancy rights were held for nearly 14 years and consideration received on surrender has been...

9. Surrender of leasehold rights – Provisions of Section 50 C will apply on receipt of consideration on transfer of a property, being land or building or both, and not in...

10. Capital receipt versus casual and non-recurring income - Whether the Tribunal was right in holding that Section 10(3) of the Income Tax Act, 1961 was not applicable and...

11. Capital gain on tenancy rights - transfer u/s 2(47) - Even if the assessee has not paid any amount for purchase of tenancy rights, the nature of rights would remain...

12. Capital gain u/s 45 - capital gain on surrender of leasehold right - Transfer u/s 2(47) or not? - The Tribunal held that, the act of these assessees in not disclosing...

13. Capital gain - tenancy right available with the assessee or not? - the amount received for not interfering possessions - the parties of the family settlement that the...

14. Scope of supply - transfer of leasehold rights in respect of Noida Authority allotted land - The AAR held that, The activity of assignment is in the nature of agreeing...

15. Compensation received on surrender of tenancy rights - Taxability in the hands or in the hands of Firm - who is the owner of tenancy right - Payment of rent by Firm and...