Saturday, July 21, 2018

Profit from investment held as capital gains in earlier years can't be treated differently in subsequent year

IT : When assessee makes investment and chooses to rely on same and obtain a higher price out of it than what it originally acquired, enhanced price received is a realization of investment and, hence, same is to be treated as capital gain

from www.taxmann.com Latest Case Laws https://ift.tt/2Le7Zdl

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...