Allowable deduction in computing the capital gains - Expenditure ...

Income Tax

April 10, 2023

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 value of the building in the schedule of the fixed assets and now assessee again says that sale of land also includes the sale of building so as to claim deduction towards cost of building from the sale value of the land, actually it was not so. - Claim of assessee rejected - AT

View Source

← Previous Next →

Allowable deduction in computing the capital gains - Expenditure ...

Income Tax

April 10, 2023

You may also like:

Portfolio Management Services (PMS) fees paid is eligible for deduction while computing Short Term Capital Gain

Allowable as business expenses - Small contributions to local people and institution on request of employees and business associates - Section 37 of the Act contemplates...

Determination of Capital Gains - Under section 48, only sums specified for being adjusted against the consideration accruing or arising on the transfer of a capital...

Claim of deduction u/s 48(i) - deduction of expenditure incurred wholly and exclusively in connection with the transfer of shares - whether the expenditure is incurred...

Capital Gains - There was proximate link and the expenditure incurred was in furtherance and to effectuate the transfer/sale of the property and was not remote and...

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...

Expenditure of ESOP - Expenditure in question was wholly and exclusively for the purpose of the business of the assessee and had to be allowed as deduction as a revenue...

Computation of short term capital gain - Deduction of Title Perfection Cost - assessee was eligible for deducting such amount while computing short-term capital gains - AT

Deduction u/s 54 - Proportionate deduction - Denial of deduction as capital gains arising out of sale of original asset was not deposited in the Capital Gain Deposit...

CSR expenditure - whether a allowable business expenditure? - explanation to Section 37(1) of the Act would not be applicable as it was with effect from the assessment...

Non setting off carried forward business loss against the Capital Gain computed u/s 50 - sale of depreciable assets - legal fiction is to be deemed the capital gain as...

Regarding allow-ability of 1/3 of the total expenditure - Once a finding of fact has been recorded that the expenditure is of revenue nature and has been spent wholly...

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...

Capital gain computation - lease rental expenses are related to the transfer of slump sale business while computing the capital gain u/s 48(1) or not? - The Tribunal...

Disallowance of interest expenditure - interest expenditure is wholly and exclusively for the purpose of earning interest income. - AO directed to grant the deduction of...

Quick Updates: