S. 54F : Capital gains-Investment in a residential house-Possession of flat was taken within period of two years from date of transfer of original asset-Entitled for benefit. [S. 45]
Rajiv Madhok v. ACIT (2020) 184 ITD 378/ 80 ITR 427 (Delhi)(Trib.)S. 54F : Capital gains-Investment in a residential house-Possession of flat was taken within period of two years from date of transfer of original asset-Entitled for benefit. [S. 45]
Rajiv Madhok v. ACIT (2020) 184 ITD 378/ 80 ITR 427 (Delhi)(Trib.)S. 54B : Capital gains-Land used for agricultural purposes-Purchase of new agricultural land prior to due date of filing return-Entitle to exemption. [S. 45, 139(1)]
Anil Kumar Nuwal v. ACIT (2020) 184 ITD 760/196 DTR 113/208 TTJ 637 (Jodhpur)(Trib.)S. 54 : Capital gains-Profit on sale of property used for residence-Capital gains not utilised within period of three years-Chargeable ro capital gain year in which period of 3 years from date of transfer of original asset expires. [S. 45]
Deepak Bhardwaj. v. ITO (2020) 184 ITD 470 (Delhi)(Trib.)S. 54 : Capital gains-Profit on sale of property used for residence-Substantially complied with provisions-Some delay in depositing amount in CGAS-Denial of exemption is held to be not justified. [S.45, 139(1)]
ITO v. Rekha Shetty (Smt.) (2020) 184 ITD 38 /81 ITR 1(SN) (Chennai) (Trib.)S. 50C : Capital gains-Full value of consideration-Stamp valuation-Agreement fixing amount of consideration and date of registration of property is different-Stamp valuation on date of agreement was to be taken for purposes of computing full value of consideration. [S. 45]
Ramesh Govindbhai Patel. v. ITO (2020) 184 ITD 731 (Ahd.) (Trib.)S. 50C : Capital gains-Full value of consideration-Stamp valuation-Disputing the stamp valuation-Matter should be referred to DVO for valuation of the said property. [S. 45]
Anant Raj Ltd. v. ACIT (2020) 184 ITD 820/191 DTR 32/206 TTJ 101 (Delhi)(Trib.)S. 45 : Capital gains-Sale of land-Possession was not handed over-Execution of cancellation deed-No Transfer not liable to capital gains tax-Capital gain is not liable to be taxed though offered in the return of income. [S. 2(47)(v), Transfer of Property Act, 1882, S. 53A]
Futura Polyster Ltd. v. ITO (2020) 184 ITD 158 / 213 TTJ 625 (Mum.)(Trib.)S. 44D : Foreign companies-French airlines-Shipping, inland waterways transport and air transport-Technical services-Handling services-Pool member and providing service in that capacity to guest members would come under purview of Article 8(2) of DTAA between India and France-DTAA-India-France-Addition confirmed by the CIT(A) was deleted. [S. 9(1)(vii), 90, 115A, Art. 7, 8(2)]
Air France v. ACIT (IT) (2020) 82 ITR 301 / 184 ITD 412 / 208 TTJ 912 (Delhi) (Trib.)S. 43B : Deductions on actual payment-VAT and excise duty-Closing balance of earlier years cannot be added back.
Futura Polyster Ltd. v. ITO (2020) 184 ITD 158/( 2021) 213 TTTJ 625 (Mum.)(Trib.)S. 43(5) : Speculative transaction-Forward contract-Hedging currency-loss due to fluctuation in foreign exchange-Not speculative-Allowable as business loss. [S. 28(i), 37(1)]
DCIT v. DML Exim (P.) Ltd. (2020) 184 ITD 432 (Rajkot)(Trib.)