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Income Tax - Highlights / Catch Notes

Home Highlights May 2014 Year 2014 This

Computation of LTCG – Whether the value of surrender of tenancy ...


Court Rules Tenancy Surrender Value Must Be Included in House Property Cost for Long-Term Capital Gains Calculation.

May 10, 2014

Case Laws     Income Tax     AT

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

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  1. Long term capital gain - sub-tenancy right - the assessee had a sub-tenancy right in the property and upon surrender thereof, the assessee received a sum which was...

  2. 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...

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  10. ITAT adjudicated a dispute regarding capital gains taxation, specifically addressing the set-off of non-grandfathered short-term and long-term capital losses against...

  11. The High Court held that the value of free diesel supplied by the service recipient to the Goods Transport Agency (GTA) service provider cannot be included in the...

  12. The assessee claimed exemption/deduction u/s 54F on account of investing long-term capital gains in a new residential house. The PCIT disallowed the claim, considering...

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  14. HC held that Section 50C's applicability extends beyond traditional ownership, encompassing various modes of property holding including leasehold rights. The term "held...

  15. ITAT held that indexation benefit for property acquisition shall be calculated from the allotment date (3/12/2010), allowing cost indexation based on payments made...

 

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