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Capital Gain

A listed Company is Entitled to Exemption for Amount Exceeding 10% of Capital Gain while computing LTCG: ITAT Delhi [Read Order]

Taxscan Team

In DDIT v. Shri Anand Persad Jaiswal, the ITAT Delhi ruled that a listed Company is entitled to get benefit of section 112(1) of the Income Tax Act...

Compensation received under Compulsory Land Acquisition is not Capital Gain even if the same was...

Income from Sale of Shares and Mutual Funds are ‘Capital Gain’ though the Assessee involved in...

Investing in Shares by availing Service of Portfolio Manager is ‘Capital Gain’: ITAT dismisses...

Profit on Sale of Shares by a Company providing Finance against Securities is ‘Capital Gain’ not...

Advance Received on Investment in Specified Bonds are Eligible for Income Tax Exemption: Bombay HC [Read Order]

The division bench of the Bombay High Court in the case CIT v. Subhash Vinayak Supnekar held that the assessee, who had received advance amount on investment in specified bonds are eligible for the...

Excess sum received by Assessee due to Fluctuation of Exchange Rates are Capital Receipts, Taxable as Capital gain: Calcutta HC [Read Judgment]

The division bench of the Calcutta High Court, in a recent decision observed that the excess sum received by the assessee due to fluctuation of exchange rates are capital receipts. It was further held...

Profit from Transfer of Shares and units of Mutual Fund are Capital Gain, not Business Income: ITAT Ahmedabad [Read Order]

In a recent ruling, the ITAT, Ahmedabad bench held that the profit arising out of purchase and sale of shares and investing in mutual funds are capital gain. By relying upon the CBDT Circular...

Income from Sale of Assets of ongoing concern is Taxable as ‘Capital Gain” from the hands of the partner after the Dissolution of the Firm: SC [Read Judgment]

While upholding the order of the Karnataka High court, the two-judge bench of the Supreme Court observed that the income arising out of the sale of capital assets of a going concern by a partner to...

Income from Sale of Mutual Fund is ‘Capital Gain’, not Business Income, says ITAT Delhi [Read Order]

In a recent ruling, the Delhi ITAT held that the income earned by the assessee on sale of mutual fund should be determined under the head “capital gain” under the provisions of the Income Tax Act,...

Application u/s 50C to determine Capital Gain is not a Conclusive Proof that sale deed is incorrect or wrong: ITAT Ahmedabad [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal, in a recent decision, held that determination capital gain by applying section 50C of the Income Tax Act, 1961 cannot be treated as a...

Income from Share Transaction is 'Capital Gain' though Assesses’ primary business is Share Trading: ITAT Kolkata [Read Order]

Recently, the Income Tax Appellate Tribunal, Kolkata has held that the income from transaction of shares has to be categorized under the head 'capital gain' under the provisions of the Income Tax Act,...

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