Home Highlights August 2012 Year 2012 This

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1. Addition of capital gain - cost of indexation - JDA property - Though in the definition of 'indexed cost of acquisition', the word used are, "in which the asset was held...

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. Computation of indexed cost of acquisition – capital gain on transfer of capital asset acquired through succession - for the purpose of 'Indexed Cost of Acquisition', it...

4. Determination of the cost of acquisition - computation of the period for which the asset is held by the assessee - property transferred to the assessee under a will or...

5. Base year for considering cost of inflation index (CII) for computing long term capital gain on inheritance of property - it should be the date when previous owner...

6. Computation of LTCG – Capital receipts in lieu of inheritance – FMV - the property is inherited the cost of acquisition of the property has to be treated as per the...

7. Capital gain computation - Failure of the assessee to offer capital gains in the appropriate year will not disentitle the assessee to claim cost of acquisition....

8. Computation of LTCG – Whether the value of surrender of tenancy right is to be considered as cost of acquisition of house property - Held yes - AT

9. Capital gain computation - disallowance of interest on housing loan which has been claimed as part cost of acquisition - The ITAT upheld the CIT(A)'s decision, agreeing...

10. Computation of capital gains - the cost of inflation index should be made applied with reference to the year in which the capital asset was first acquired by the...

11. LTCG - Determination of Fair Market Value (FMV) - The Assessing Officer and the Commissioner of Income Tax (Appeals) accepted the fair market value of the property as on...

12. Capital Gain - property received by way of gift - Cost of acquisition of the asset shall be the cost for which the previous owner of the property acquired it, as...

13. LTCG - Computation of cost of acquisition of the property - Unless the Assessing Officer proves that the assessee has demolished existing building and dismantled...

14. Addition on account of long term capital gains - indexed cost of acquisition - Claim of assessee that in financial year 1994- 95, the assessee has gifted certain portion...

15. Capital gain computation - Cost of acquisition - indexed cost of interest paid - The expenditure which is allowable u/s 24 cannot be capitalized, claimed as cost of...