Revision u/s 263 - LTCG on sale of properties - property had ...

Income Tax

June 22, 2023

Revision u/s 263 - LTCG on sale of properties - property had been sold in piecemeal in 14 transactions - stock-in-trade or capital asset - Whether to accept the transactions as being taxable under the Long Term Capital Gain or to reject them and tax them under the head income from business would have been duly considered by the AO at the time of assessment proceedings and the conclusion arrived at by the AO was definitely one of the plausible views - Revision order quashed - AT

View Source

← Previous Next →

Revision u/s 263 - LTCG on sale of properties - property had ...

Income Tax

June 22, 2023

You may also like:

LTCG - no capital gains arises on the sale of agricultural land even though purchaser purchased the property with an intention of selling it for non-agricultural purposes - AT

Computation of long term capital gain - Sale of ancestral property - Exclusion of the amount paid to the unauthorized occupants directly by the purchase of the property...

Capital gain on asset sold - LTCG OR STCG - period of holding - merely because there is a change in the nature of immovable property, the principles of determining date...

Computation of indexed cost of acquisition for of computation of LTCG - property sold got from inheritance from ancestors - AT

Addition towards LTCG on sale of house property - co-ownership - he entire capital gains cannot be taxed in the hands of assessee - AT

Revision u/s 263 - provision of s.56(2)(vii)(b)(ii) was applicable - market value of the subject property vs stamp value - the stated sale consideration is not the...

LTCG or STCG - AO was right in treating the holding period of the property from the day on which the assessee has got right over the property by virtue of a valid sale...

Income from sale of property - When all these factual observation are seen cumulatively, the claim of the assessee that the activity of sale of properties should be...

Revision u/s 263 - error noted by the CIT that sale of properties by the assessee during the year was not examined by the AO vis-à-vis its stamp duty value for the...

Revision u/s 263 - Since the two properties referred by Ld. PCIT belonged to the partnership firm, the profit on sale of those properties cannot be assessed in the hands...

Quick Updates: