S. 54 : Capital gains-Profit on sale of property used for residence–Failure to obtain possession of plot with in period of three years- Exemption cannot be denied. [S. 45]
S. 54 : Capital gains-Profit on sale of property used for residence–Failure to obtain possession of plot with in period of three years- Exemption cannot be denied. [S. 45]
S. 54 : Capital gains-Profit on sale of property used for residence-Right of allotment–Surrender of rights-Held more than three years –Compensation assessable as long term capital gains-Entitle to exemption in relation to investment in new flat. [S. 2(47)(ii), 45, 47]
S. 50C : Capital gains-Full value of consideration-Stamp valuation –Report of DVO–CIT(A) is bound to issue notice Valuation officer –Matter remanded. [S. 45]
S. 50C : Capital gains-Full value of consideration-stamp valuation- Date of agreement-Registration- Value adopted or assessed or assessable by stamp valuation authority on date of agreement is to be taken for purpose of computing full value of consideration for such transfer-Matter remanded. [S. 45]
S. 50B : Capital gains–Slump sale–Sale of business undertaking- Assessable as long term capital gain. [S.2(9AA), 2(42C), 45, 50]
S. 50 : Capital gains-Depreciable assets-Block of assets–Sale of flat–Purchase of flat for self occupation-Sale of premises assessable as short term capital gains. [S. (2(11), 43(6), 45]
S. 49 : Capital gains-Previous owner-Cost of acquisition-At time of filing of return of income on 30-9-2009, sub-clause (e) to section 49(1)(iii) was not in statute as same was inserted by Finance Act, 2012, with retrospectively effective from 1-4-1999-Provision cannot be applied for computing the capital gains of relevant year. [S. 45, 47(xiii)]
S. 48 : Capital gains-Full value of consideration-Sale of shares below market price-Transfer of shares in guise of loan agreements –Consideration was taken at prevailing market rate and not at Rs. 4 per share.[S. 45]
S. 45(2A) : Capital gains-Depository- Security–Demat–Multiple accounts-FIFO method–Should be applied to account wise and not person wise. [S. 2(42A)]
S. 45 : Capital loss-Tax planning-Purchase of compulsory convertible Debentures (CCDs) from its subsidiary company and sale to holding company-Loss is held to be genuine and allowable as capital loss. [S. 4].