There was a transfer of capital asset when the applicant ...

High Court Rules No Capital Gains Tax on Land, Shares, Securities Contributed to Partnership Firm as Capital Assets.

October 3, 2016

Case Laws Income Tax HC

There was a transfer of capital asset when the applicant assessee made its capital contribution in the form of land, shares and securities to the partnership firm - however demand of tax as capital gains set aside - HC

View Source

← Previous Next →

There was a transfer of capital asset when the applicant ...

High Court Rules No Capital Gains Tax on Land, Shares, Securities Contributed to Partnership Firm as Capital Assets.

October 3, 2016

Case Laws Income Tax HC

You may also like:

Short term capital gain - capital gain arose from transfer of land to the partnership firm by way of capital contribution as the assets was converted to Fixed Capital...

Short Term Capital Gain - conversion of the Partnership Firms into Companies - Additions in the hands of partners - CIT (Appeals) correctly deleted the additions on...

Capital gain - Land (asset) held as stock-in-trade in the partnership firm - Considering the legal position as explained by us in the relevant provisions of subsection...

Characterization of receipt - amount received by the appellant upon retirement from the partnership - taxability as capital gains under the Income Tax or not? - The High...

Disallowance of interest expenditure in the hands of partner - investment as capital in the business of the partnership firm - Absence of earning any interest income on...

The SC affirmed that property contributed by a partner to a partnership firm becomes firm property under Section 14 of the Partnership Act. In this case, the late Bhairo...

Exemption u/s. 54EA - transfer of shares held as stock-in-trade - transfer of unlisted shares of DSPML is to be taxed under the head “capital gains” irrespective...

Capital gain on transfer of shares - capital gains arising from the transfer of shares because of family arrangement - the assessee has transferred the shares based on...

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...

The appellant firm had purchased lands for business purposes but did not carry out any business activities on those lands. The firm transferred the amounts pertaining to...

Partnership firm - Nature of the Certain considerations received after the dissolution of the firm - The appellants as erstwhile partners are liable to pay capital gain...

Capital gain - revaluation of the satellite rights - The revaluation of the assets by the partnership firm would not attract any capital gain - There was no transfer - HC

The assessee, an NRI and resident of USA, transferred a capital asset and derived capital gain. The asset comprised rights and interests acquired through an assignment...

Right to subscribe to shares in future - Section 45(1) provides that any profits or gains from the transfer of capital asset are taxable as capital gains, but then, even...

Long term capital gain - agricultural land - capital asset u/s 2(14) - land as situated within Municipal Limit or not?- it can be held that “Dharuhera” of District...

Quick Updates: