TDR not to attract Capital Gain Tax : SC

SupremeCourt

By Accommodation Times News Service Supreme Court in the matter INCOME TAX APPEAL NO. 1356 OF 2012 , Commissioner of Income Tax -18 v/s Sambhaji Nagar Co­op. Hsg. Society Ltd. have observed that TDR generated under DCR by the society is not to be taxed under Capital Gain Tax. “…Thus, the conclusion of the Hon’ble Supreme Court is that an asset which is capable of acquisition at a cost would be included within the provisions pertaining to the head “Capital gains” as opposed to assets in the acquisition of which no cost at all can be conceived.  In the More...

by Staff Reporter | Published 2 hours ago
law
By Staff Reporter On Wednesday, December 17th, 2014
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Flat income tax of 8% chargeable for real estate business if no books kept : Delhi High Court

By Accommodation Times News Service HIGH COURT OF DELHI AT NEW DELHI Date of Decision: December 09, 2014  ITA 80/2014 COMMISSIONER OF INCOME TAX-XII versus SUBODH GUPTA JUDGMENT SANJIV KHANNA, J (ORAL) This appeal More...

By Staff Reporter On Saturday, August 3rd, 2013
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Acquisition of land for Re-development and Rehabilitation is prerogative of State govt: HC

By Accommodation Times News Service IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO. 2582 OF 2003 WITH CHAMBER SUMMONS NO. 267 OF 2008 Sara Harry D’Mello .. More...

By admin On Wednesday, May 8th, 2013
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Property Can be Sold on General Power of Attorney : Delhi HC

By Accommodation Times News Services IN THE HIGH COURT OF DELHI AT NEW DELHI W.P.(C) 4585/2012 and CM No. 9515/2012 PACE DEVELOPERS AND PROMOTERS PVT LTD versus GOVT. OF NCT THROUGH ITS SECRETARY CORAM: HON’BLE More...

By admin On Thursday, November 1st, 2012
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Tenancy cannot be created by Courts : Calcutta High Court

By Accommodation Times Bureau Hon’ble Calcutta High Court had decided that consent of the land lord is must before creating the tenancy. The company in liquidation admittedly does not own the property. We More...

By admin On Thursday, March 22nd, 2012
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80 IB allowable to entire project

Clause (d) inserted in section 801B[10) with effect from April 1, 2005, is prospective and not retrospective and hence could not be applied for the period prior to April 1, 2005. Since deduction under section 801B[1Oj More...

By admin On Tuesday, September 7th, 2010
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A recent landmark judgement by SC

By Adv. Vinod Sampat  CIVIL APPELLATE JURISDICTION   CIVIL APPEAL NO. 2544 OF 2010   Nahalchand Laloochand Pvt. Ltd. …………..    Appellant  Versus  Panchali Co-operative Housing Society More...

By admin On Saturday, September 4th, 2010
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Builders can not sell stilt parking areas – Supreme Court

In a recent case of an argument of a real estate development company that they are entitled to sell garages or stilt parking areas as separate flats to owners who intend to use it as parking facilities, a bench More...

By admin On Saturday, August 21st, 2010
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Demolition of Illegal Constructions

In a recent case of a writ petition filed against a case of flat owners of an illegally constructed building seeking respite from the BMC’s orders, the divison Bench of the Bombay HC held that in such matters More...

By admin On Friday, May 28th, 2010
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Section 50C does not apply to “rights” in land & building like tenancy rights

Kishori Sharad Gaitonde vs. ITO (ITAT Mumbai) The assessee, a tenant in a flat, sold tenancy rights for Rs. 30 lakhs and offered long-term capital gains on the basis that the said sum was the consideration. The More...

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