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Income Tax - Highlights / Catch Notes

Home Highlights June 2018 Year 2018 This

Long term capital loss - Right as a capital asset created by MOU ...

Income Tax

June 20, 2018

Long term capital loss - Right as a capital asset created by MOU duly registered and the allotment letter, within the meaning of section 2(14) therefore when this right got relinquished the consideration received thereof will be consideration for transfer of capital asset as relinquishment falls within the definition of 'transfer' u/s 2(47) and is, therefore, chargeable to tax u/s 45 as capita gain.

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