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Income Tax - Highlights / Catch Notes

Home Highlights March 2015 Year 2015 This

Computation of Long term capital gain - dis-allowance of ...

Income Tax

March 19, 2015

Computation of Long term capital gain - dis-allowance of expenditure u/s 48 which was found as unexplained u/s 69C - unrecorded expenditure cannot be claimed by the assessee in any year by this overriding proviso - AT

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  2. 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...

  3. Computation of Long-term Capital Gains - non considering the INDEX COST of assets purchased u/s. 48 - The benefit of indexation while computing long term capital gains...

  4. Long term capital gain - allowable expenditure u/s. 48(i) - The same land has been sold in the year under consideration giving rise to long term capital gains to the...

  5. Dis-allowance u/s 43B - entry tax, welfare cess, Provident fund, Interest to public institutions - expenditure dis-allowed for want of proof that taxes have been paid...

  6. Set off of indexed long term capital loss against non-indexed long term capital gains - the expression "similar computation" used in section 70(3) of the Act does not...

  7. Computation of capital gains - Non-resident - Long term capital Gain / loss on share transactions - Benefit of indexation - it cannot be disputed that if as per section...

  8. Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

  9. Unexplained purchase u/s 69C - Section 69C clearly refers to the “source of the expenditure” and not to the expenditure itself - AT

  10. Additions cannot be made u/s 69C of the Act, as unexplained expenditure, towards difference between purchase price found in loose slips and amount recorded in books of account - AT

 

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