S.54F : Capital gains-Investment in a residential house-Construction of first floor with separate kitchen, electric connection, water connection, etc-Entitle to exemption-Amount received back-Cancellation of deal of property-Addition is deleted. [S. 45, 68]
S. 54 : Capital gains-Profit on sale of property used for residence-Co-Owner-Sale of old asset-Allowed the claim in the name of Co-0wner-Order of CIT(A) is affirmed.[S. 45]
S. 50 : Capital gains-Depreciable asset-Long term capital gains-More than 36 months-Rate of tax is 20 per cent. [S.2(42A), 48, 49, 112]
S. 48 : Capital gains-Mode of Computation-Indexed cost-AO is directed to allow the above two additional deductions while calculating the long-term capital gains in addition to the deductions already allowed by the AO in respect of indexed cost of acquisition of plot.[S. 45]
S. 48 : Capital gains-Mode of Computation-Cost of improvement-Payment made to builder-No reference in sales deed-Allowable as deduction. [S. 45]
S.45:Capital gains-Suppression of sale-Paper seized from the premises of purchaser-Loose papers-Matter is restored back to the file of the CIT(A) for fresh determination of the issue in accordance with law after making enquiries or causing enquiry through the AO. [S. 48,131, 251]
S. 45: Capital gains-Long-term or short-term-Letter of allotment-Period of holding to be considered from the date of allotment-Held to be long term capital gains-Investment in a residential house-Wrongly claimed u/s 54-Matter is remanded to the Assessing Officer for verification. [S. 2(29AA), 2(29B), 54, 54F]
S. 45: Capital gains-Capital loss-Sale of shares-Cost of acquisition-Special provision of S. 50CA which considers the fair market value as full value of consideration for transfer of unquoted shares has been brought into effect from asst. yr. 2018-19-Loss cannot be disallowed. [S.48, 5OCA]
S. 44BB : Mineral oils-Computation-In the absence of a PE of the assessee in India-Not taxable in India-DTAA-India-Canada-Non-Resident-Income subject to TDS-Interest cannot be levied. [S.90, 209(1), 234B Art. 7]
S. 43B : Deductions on actual payment-Tax collected at source-Holds custodian of Government-Not disallowable. [S.143(1), 206C(6A)]