Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2016 Year 2016 This

Acceptance of on-money in purchase of landed property, is ...

Income Tax

October 22, 2016

Acceptance of on-money in purchase of landed property, is relatable to the period relevant to the AY 2013-14. Perhaps only on account of fact that the sale deed was registered during the period relevant for the AY 2009-10 and the amount involved was considerable, AO has issued the notice of reopening - Notice is not valid, quashed - HC

View Source

 


 

You may also like:

  1. Applicability of section 50C of the Income tax act on trading transaction of sale and purchase of land - Section 50C is not applicable during the relevant assessment year - HC

  2. Allowability of interest relatable to the borrowed funds given by the company to its directors and its sister concerns for acquiring agricutural land - interest allowed - AT

  3. 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

  4. Nature of unaccounted surrendered income emanating from the seized document - business income OR deemed income u/s 69 - The income is business income relatable to...

  5. Addition to income from capital gains - Nature of land sold - Anyhow, to meet the ends of natural justice, we direct the assessee to file complete sale deeds of the...

  6. Profits arising on sale of land - ‘business income’ OR 'capital gains' - after purchase of land assessee got if converted to NA land - the assessee also got a lay out...

  7. Addition of undisclosed income arising out of sale of land - on-money - Once, nature and character of land sold is established as agricultural land not to be treated as...

  8. Indirect contribution of wife in the purchase of the property - Joint properties purchased by husband and wife [housewife] - legal owner - the 1st defendant/wife has...

  9. Addition u/s.69 or 68 - assessee has paid on-money towards purchase of property to the seller - The assessee is only owner of 1/3rd share in the property purchased. -...

  10. Addition u/s 56(2)(vii)(b)(ii) - difference between the stamp duty value and purchase value of agricultural land (immovable property) - the agricultural land purchased...

 

Quick Updates:Latest Updates