Home Highlights February 2015 Year 2015 This

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

2. Depreciation - Cost of acquisition - depreciation to be allowed on WDV of the predecessor or Revaluation of assets - Conversation of firm to a company - The assessee as...

3. Depreciation - Determination of WDV - Cost of Acquisition - waiver or write of loan - the manner of repayment of loan cannot affect the cost of asset. The actual cost...

4. Computing the capital gain on sale of assets - WDV of depreciable assets - Exemption u/s 11 - the assessee has partly claimed the depreciation on this asset and when the...

5. Value of assets for the purpose of calculation of depreciation - sale of assets - u/s.43(6) of the Act, the WDV of the block of assets is to be reduced by the sale...

6. Claim of depreciation - capitalisation being pre-commencement rent and other expenditure incurred - Section 32 of the Act allows depreciation on actual cost of the...

7. Surplus earned on the sale of plot - ‘capital gain‘ OR ‘business income’ - There is no clause in the partnership deed about making investment in the land and to earn...

8. Reducing the subsidy for the purpose of calculation of depreciation - When the statute does not contemplate computation of actual cost of assets after it becomes part of...

9. Deduction/Exemption u/s 54 - nexus between sale consideration received on sale of old asset and source of investment in new house - amount contributed by the Appellant’s...

10. Depreciation at higher rate on rolls @ 80% - calculation of WDV - As per section 43(6)(b), the WDV in case of assets acquired before the previous year is defined to mean...

11. Slump sale - if the sale consideration of the undertaking as a whole has been fixed without specifying any specific value to any asset and its includes tangible as well...

12. 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...

13. Cost of acquisition / Actual cost - Depreciation on assets taken over in pursuant to amalgamation - Value to be taken as "value fixed in pursuant to arrangement between...

14. Defining the cost of acquisition in case of certain assets for computing capital gains - 'Cost of acquisition’ and ‘cost of improvement’ of certain assets like...

15. Depreciation on intangible assets - case of conversion of partnership firm into a company - determination of WDV / cost of acquisition - As actual cost to the assessee...