Long term capital gain - transfer u/s 2(47) - Year of assessment ...

Section 2(47): Tax Long-Term Capital Gains on Actual Income Only, Not Notional or Hypothetical Values. No Income, No Tax.

October 10, 2020

Case Laws Income Tax AT

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. - if income does not result, there cannot be a tax, even though in book-keeping an entry is made about a hypothetical income, which does not materialize.’ - AT

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Long term capital gain - transfer u/s 2(47) - Year of assessment ...

Section 2(47): Tax Long-Term Capital Gains on Actual Income Only, Not Notional or Hypothetical Values. No Income, No Tax.

October 10, 2020

Case Laws Income Tax AT

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