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Income Tax - Highlights / Catch Notes

Home Highlights May 2018 Year 2018 This

Capital gain tax liability - The power and control of land was ...

Income Tax

May 10, 2018

Capital gain tax liability - The power and control of land was conferred on the builder/ developer under GPA - since the agreement was not registered, there cannot be a transfer within the meaning of section 2(47)(v) - AT

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  1. Nature of income in the hands of land developer (vendor) - third party agreement with land owner - the receipt would attract capital gains at his hands - HC

  2. Correct head of income - business profit or Long Term Capital Gains - GPA was restricted to the extent of builder’s right at 73.33% of the land and that portion allotted...

  3. Capital gain - Joint Development agreement (JDA) - Transfer / sale of land u/s 2(47)(v) or not? - - the said execution of land development agreement cannot be a sale of...

  4. Valuation of the service of construction provided by a builder/developer to a landowner, who transfers his land/development rights to builder - CBEC clarifies

  5. Additions on account of long term capital gains arising from transfer of land - GPA holder - when in the registered power of attorney no consideration has passed on from...

  6. Capital gains - Transfer of property - joint development agreement - capital gains on the assessee’s land correctly brought to tax by the AO - AT

  7. CGH Society allows builder to construct building, Sum received from builder is not taxable as Capital gain as no capital asset u/s 2(14) & no transfer u/s 45

  8. Liability of Service tax - Construction of Complex Service - sale of undivided share of land (UDS) - appellant who is a builder/promoter is not liable for service tax...

  9. Long Term Capital Gain u/s 45 - transfer u/s 2(47) - vacant land - Possession given by the society to the developer under joint development agreement - irrevocable...

  10. Capital Gain in hand of GPA holder - the recitals in the GPA show that the assessee is not the owner of the property but has only been granted authority to convey the...

 

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