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Income Tax - Highlights / Catch Notes

Home Highlights August 2017 Year 2017 This

LTCG - gift of immovable property to daughter - it is argued ...

Income Tax

August 28, 2017

LTCG - gift of immovable property to daughter - it is argued that, mistakenly instead of gift deed, sale deed was made - assessee failed prove that the same is exemption u/s 47(iii) as gift - Addition applying the section 50C confirmed.

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  1. Gift of immovable property - assessee's brothers and mother have gifted their 1/8th undivided share - very heavy burden lies on the department to prove that it is not...

  2. Capital gain on property gifted - Execution of sale deed instead of gift deed wrongly in favor of Daughter in law (DIL) - DIL has not paid the amount as mentioned in the...

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  5. Addition in view of the Provisions of section 50C on the Gift of Plots - Transfer of property by a Company as a gift - AO concluded how the gift by one company to other...

  6. Unexplained deposits - genuineness of gift received by the father from his daughter - As per the provisions of section 56 the father and daughter comes in the definition...

  7. Exemption u/s 54 - gift of the property so purchased to the daughter - exemption allowed subject to that, during the restriction period, the daughter shall not transfer...

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