Home Highlights February 2015 Year 2015 This

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1. Capital gain computation - co-ownership at 50% - electivity bills or the society maintenance receipt tax does not prove the title of the property - the transfer...

2. Incorrect depreciation claim - fractional ownership - real ownership - Merely entering into an agreement or understanding of user of a asset, a License may be created in...

3. Classification of services - Business Auxiliary services or not - The agreement between the shop owners and the assessee provided that the shop owner would pay...

4. TDS u/s 194C - Non deduction of TDS on payment to the persons who were not the owner of the vehicle - The Tribunal interpreted the term "owns" in section 194C(6) to...

5. Reopening of assessment - capital gain on sale of property - assessee was appointed as the power of attorney holder by the owner in respect of her immovable property -...

6. Long Term Capital Gains - Sale of society flat - proportionate portion of land in the society - As per the sale deed, it is clear that assessee gets a membership on the...

7. Owner of suit property - joint ownership - legality and validity of the power of attorney and the sale deeds - the sale deeds will have to be held as void being executed...

8. LTCG - exemption claimed u/s 54F - fractional ownership - Whether joint ownership of 16.67% in six flats constituted owning more than one residential house. - The ITAT...

9. Addition u/s 69B for unexplained investment - consideration in sale deed vs consideration in agreement to sale - During the course of search, no evidence was found other...

10. Difference between amount shown in agreement to sale and sale deed - Addition u/s 69 - Even if it is assumed to be so, unless it is proved that the agreement was acted...

11. Capital gain - Taxability in the hands of GPA holder - the sale deed executed by the assessee on 04.01.2011 is not in the capacity of GPA holder on behalf of the...

12. Refund of Additional Customs Duty - refund rejected on the ground that the claimant is not the importer of the goods - The agreement is sufficient evidence to satisfy...

13. Rectification u/s 254 - Sale of land - land in question were sold by the assessee in the capacity of power of attorney holder and AO has assessed the income in the hand...

14. Interpretation of statute - Section 2(26) of Customs Act - Scope of the term Importer - High Sea Sale - Adjudicating authority treated the appellant neither the importer...

15. Estimated income from sale of plots- In this case, except agreement to sale for one plot, the AO does not have any other credible evidence to support his estimation of...