Judgements by CA Neha Bhuwania

Which tax rate should be applied at capital gains on depreciable assets which are held for more than three years even when they have to be treated as STCG u/s 50?

CA Neha Bhuwania 04 July 2014 at 13:19

An assessee sold his depreciable business asset (a flat) for 35 Lakhs and computed capital gains u/s 50 at Rs. 12.52 Lakhs after deducting the WDV of the block of assets from the sale price received. However, as per the AO, the stamp duty value of th

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In case the stamp duty valuation is higher than the consideration received by the assessee, then is the AO authorized to compute the capital gain based on such higher stamp duty valuation?

CA Neha Bhuwania 25 June 2014 at 12:37

The assessee had a piece of land which he had sold for Rs. 10 Lakhs and invested the sale proceeds in the bonds specified under Section 54EC.However, the market value of the land as assessed by the District Sub Registrar was Rs. 35 lakhs for the purp

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