Home Highlights February 2014 Year 2014 This

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1. Taxability of long term capital gain on sale of immovable property - value u/s 50C - difference in value determined by the SVA and DVO - These facts clearly establish...

2. Addition u/s 50C - Capital Gains - For the purposes of third proviso to S. 50C(1) of I.T.Act; the valuation of the property by DVO has no relevance; and what is material...

3. Addition as short term capital gain by invoking the provisions of section 50C - difference between the declared sale consideration and the market value is within the...

4. Capital gain computation - valuation of property - Valuation report of DVO, after all, cannot be treated as the last word on valuation, and there has to be a grievance...

5. Long-term capital gain - cost of acquisition - capital gain worked out by the DVO - They have calculated the long-term capital gain simply by taking into consideration...

6. Computation of LTCG - assessee objects Stamp Duty valuation u/s. 50C before AO and requested to reference to DVO - Based on precedent AO should have refered valuation to...

7. Capital gain computation - adoption of value as deemed consideration u/s. 50C as against the actual sale consideration - Even if Section 50 is to be applied as per the...

8. Capital Gains – Adoption of valuation made by the Stamp duty authorities as consideration - - Once the assessee claimed before the A.O. that the fair market value...

9. Valuation u/s 50C - Reference not made to DVO - Assessing Officer ought to have referred the valuation of the capital asset to the Valuation Officer, whereas, the...

10. Capital gain computation - AO has invoked section 50C merely relying on the SRO value for the purpose of stamp duty - sale of assets by the bank through action due to...

11. Reference of the matter to the DVO for valuation - difference in value adopted for stamp violation and actual amount received for sale of the immovable property - there...

12. Validity of Referring the matter to DVO - Additions based on valuation report - The High Court noted that the assessee had filed its return for the relevant assessment...

13. Capital gain computation - Fair Market Value as on 01.04.1981 u/s 55(2)(b)(i) - the fair market value of the impugned immovable property should be adopted at Rs....

14. Capital gain computation - Addition u/s 50C - Increase in Circle Rate between the date of agreement and actual date of registration - AO is directed to adopt full value...

15. Revision u/s 263 - CIT himself accepted that gains on sale of Medchal land has to be assessed under the head "Long term capital gains". The gain is taxable at the rate...