Sale of shops/flats - Capital gain v/s business income - There ...

Income Tax

May 21, 2016

Sale of shops/flats - Capital gain v/s business income - There was no intention of the assessee to enter into real estate business. The assessee has also shown sale consideration on the basis of valuation of stamp authority U/s 50C - Thus, the assessee rightly claimed long term capital gain on sale of shops/flats during the year under consideration. - AT

View Source

← Previous Next →

Sale of shops/flats - Capital gain v/s business income - There ...

Income Tax

May 21, 2016

You may also like:

Classification of head of Income – adventure in the nature of trade or sale of capital asset - sale of property after getting the flats constructed - taxable as capital...

Sale of shares - Business income v/s Long Term Capital Gain - it is relevant to see the intention of the assessee at the time of making of investment - AT

Taxability of capital gains - CIT(A) rightly held that asseessee being the legal owner has to be taxed for the capital gains arising from the sale of mortgaged shop - AT

Sale consideration - sale of shops held as stock in trade - Section 50C does not apply to the present case as it applies only to a case of capital gains - HC

Amount paid to the tenants for evicting the shops while computing gains earned by assessee on sale of shops allowed as deduction - AT

Capital gains - sale of flat allotted by cooperative housing society - cost of acquisition, non-allowance of registration expenses and cost of improvement - cost as...

Sale of shares - Capital Gains or business income - it will not be appropriate to assess the income declared by the assessee from sale and purchase of shares as business...

LTCG - no capital gains arises on the sale of agricultural land even though purchaser purchased the property with an intention of selling it for non-agricultural purposes - AT

Entitled to claim long term capital gain on transfer of rights in the Flats - Deduction u/s 54 against capital gains arising out of sale of flats - the right over the...

Capital gain - on entering into a JDA, there is a ‘transfer’ as per the provisions of section 2(47) of the Act and consequently capital gains is attracted.

Quick Updates: