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 December 2018 Year 2018 This

Liability to pay capital gain tax - hypothetical income - ...

Income Tax

December 13, 2018

Liability to pay capital gain tax - hypothetical income - accrual of income - activity of development was not completed and assessee received nothing in lieu of execution of the development agreement - capital gain is liable to be assessed when the income will accrued to the assessee.

View Source

 


 

You may also like:

  1. Accrual of incentives - Addition u/s 28(iii)(c) of the Act – Hypothetical income of the incentive on Advance License – Assessee has discontinued its manufacturing...

  2. Capital Gains - transfer by mere agreement - the transfer of the above stated property took place only in AY 2011-12, when assessee has declared the capital gain...

  3. Capital gain – transfer of property where title is not absolute and clear - section 2(47)(v) - the assessee is liable to pay the capital gain tax during the year under...

  4. Whether assessee was liable to deduction u/s 36(1)(iii), on account of interest accrued in respect of capital converted into loan - Held No - Payment of a liability is...

  5. Long term capital gain - transfer u/s 2(47) - Year of assessment - What has to be taxed is the amount received or accrued and not any notional or hypothetical income. -...

  6. Revision u/s 264 - Refund of excess tax paid - Admittedly, petitioner has paid more capital gains than what should have been paid. Capital gains has to be calculated on...

  7. Portfolio Management Services (PMS) fees paid is eligible for deduction while computing Short Term Capital Gain

  8. Accrual of income - Revenue recognition - real or hypothetical income - The assessee did not raise any demand on account of wheeling charges and since, there was...

  9. Interest income on Bank deposits - accrual of income - whether a hypothetical income and that the assessee is entitled to get the interest excluded from assessment? - It...

  10. Taxability of capital gains - denial of adjustments to full value of sale consideration towards amount lying in Escrow account while determining the LTCG - ITAT accepted...

 

Quick Updates:Latest Updates