Deduction claimed u/s 54G - LTCG - shifting of industrial ...

Transfer of Capital Assets Ineligible for Section 54G Exemption; Must Relocate from Urban to Non-Urban Area for Tax Benefit.

March 13, 2019

Case Laws Income Tax AT

Deduction claimed u/s 54G - LTCG - shifting of industrial undertaking - the transfer of capital asset used for purpose of business undertaking is from a non-urban area to another non-urban area which does not fulfill the primary condition for eligibility of the exemption u/s 54G.

View Source

← Previous Next →

Deduction claimed u/s 54G - LTCG - shifting of industrial ...

Transfer of Capital Assets Ineligible for Section 54G Exemption; Must Relocate from Urban to Non-Urban Area for Tax Benefit.

March 13, 2019

Case Laws Income Tax AT

You may also like:

Transfer of an industrial undertaking from urban to rural area by a partnership firm qualifies for exemption u/s 54G of the Income Tax Act. The assessee, a partner in...

Disallowance of set off of brought forward loss from transfer of short-term capital asset against gains arising from transfer of long-term capital asset - provisions of...

Short term capital gain - capital gain arose from transfer of land to the partnership firm by way of capital contribution as the assets was converted to Fixed Capital...

Grant deduction u/s 54G - LTCG on the sale of its godown situated in Bangalore, an urban area and which has been relocated in a non urban area - the activity done by the...

The assessee, an NRI and resident of USA, transferred a capital asset and derived capital gain. The asset comprised rights and interests acquired through an assignment...

Central Government notifies transfer of capital asset from NTPC Limited u/s 47(viiaf) - Notification

Imposition of wealth tax - Once the non-productive asset like urban land is converted to a productive asset like a building which qualifies for exemption, then the...

Taxability in the hands of partners v/s firm - transfer of capital asset by firm to partners - There is no merit in the arguments advanced by assessee, that transfer of...

Capital gains v/s business income - The assessee did not hold the capital asset. He did not transfer the capital asset, he only facilitated the transfer of capital...

Capital gain - compromise settlement for breach of contract - Transfer u/s 2(47) - the compensation received by the assessee arises out of the transfer of capital asset...

Taxability of capital gain in firm - revaluation of asset being land held by the partnership firm - money equivalent paid to retiring partners to enhanced portion of the...

Assessee claimed deduction u/s 54F for amount deposited in Capital Gain Account Scheme (CGAS) on transfer of capital asset. Unutilized amount withdrawn from CGAS account...

Exemption u/s. 54EA - transfer of shares held as stock-in-trade - transfer of unlisted shares of DSPML is to be taxed under the head “capital gains” irrespective...

Capital gain - transfer of a capital asset by assessee to its subsidiary company - There are different shareholders of preference share capital other than the holding...

Taxability of capital gain arising from sale of property - The assessee had acquired a right to get a particular flat from the builder and that right of the assessee...

Quick Updates: