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Section 49

Section 111, Section 47, Section 49

Bombay H.C : The Hon ble Income Tax Appellate Tribunal was justified in reckoning the period for long term capital gains from the date of purchase of convertible debentures instead of actual date of allotment of shares on conversion from debentures

Avijit Das / March 27, 2019

High Court Of Bombay Kingfisher Capital Clo Ltd. vs. CIT (International Taxation) & Anr. Section 111, 49(2A), 47(xa) S. C. […]

Income Tax Case Laws, Section 45, Section 47, Section 49, Section 55

Calcutta H.C : if the mortgage had been created by the previous owner and the assessee after inheriting the same had discharged the mortgage debt, the amount paid by the assessee for the purpose of clearing off the mortgage could be claimed as a part of cost of acquisition under Section 48 and Section 49 read with Section 55(2)

Avijit Das / July 20, 2018

High Court Of Calcutta CIT vs. Aditya Kumar Jajodia Section 55(1)(b)(2)(ii), 45, 47, 49 Sanjib Banerjee & Abhijit Gangopadhyay, JJ.

Bombay H.C : The life interest held by the assessee in Neville Wadia Trust No. 2 was an asset coming within the purview of Sec. 49(1)(ii) as it was acquired on the release executed by the previous life interest holder which amounted to a gift and therefore, the cost of the acquisition of asset would be deemed to be the cost of the original settlor

Avijit Das / March 10, 2017

High Court Of Bombay Nusli N. Wadia vs. CIT, Central II, Bombay Section : 49 Assessment year : 1984-85 M.S.

Punjab & Haryana H.C : where the cost of acquisition of capital asset cannot be ascertained but the asset has a market value, capital gain will be attracted

Avijit Das / January 28, 2011

High Court Of Punjab And Haryana (Fb) CIT Vs. Raja Malwinder Singh Assessment Year : 1977-78 & 1979-80 Section :

Delhi H.C : Capital gains arises in hand of owner only

Avijit Das / May 6, 2010

High Court Of Delhi CIT Vs. Shashi Charla Block period : 1-4-1996 to 24-9-2002 Section : 49 Badar Durrez Ahmed

Section 171, Section 48, Section 49

Gujarat H.C : Whether on the facts and in the circumstances of the case, the assessee was entitled to claim Rs. 14,33,000 as additional cost of acquisition of the interest in property for purposes of computation of capital gains ?

Avijit Das / March 18, 2009

High Court Of Gujarat Lalitaben Hariprasad vs. CIT Section 48, 49, 171 Asst. Year 1988-89 D.A. Mehta & S.R. Brahmbhatt,

Sec. 2(42A), Section 49

Kerala H.C : This appeal filed by the assessee is whether the assets sold by him viz., the hospital building and land on 18th April, 2001 is a short-term capital gain or a long-term capital gain as claimed by him

Avijit Das / December 1, 2008

High Court Of Kerala P.P. Menon vs. CIT Section 2(42A), 49(1)(iii)(b) C.N. Ramachandran Nair & Harun-Ul-Rashid, JJ. IT Appeal No.

Section 48, Section 49

Gujarat H.C : Whether, the Tribunal is right in law and on facts in holding in view of s. 49(1)(iii)(e) capital gain should be computed by taking the cost in the hands of the previous owner, namely, KPPL ?

Avijit Das / February 7, 2006

High Court Of Gujarat CIT vs. Brahmi Investments (P) Ltd. Sections 46(2), 47(v), 48, 49(1)(iii)(e), 55(2)(b)(ii) Asst. Year 1988-89 D.A.

Section 45, Section 48, Section 49, Section 55

Gujarat H.C : Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the IT authorities were not justified in working out capital gains of Rs. 41,11,414 and including the same in the total income of the assessee ?

Avijit Das / December 10, 2004

High Court Of Gujarat CIT vs. Mandharsinhji P. Jadeja Sections 45, 48, 49, 55 Asst. Year 1983-84 D.A. Mehta &

Section 48, Section 49

Delhi H.C : Whether, on the facts and in the circumstances of the case, the assets recovered by virtue of the decree of the High Court dt. 29th June, 1967, was in satisfaction of the loan of Rs. 5,00,000 inclusive of interest allegedly due to the assessee from the partnership and it became a part of the stock-in-trade of the assessee?

Avijit Das / February 19, 2004

High Court Of Delhi Delhi Safe Deposits Co. vs. CIT Sections 48, 49 Asst. Year 1968-69, 1970-71 B.C. Patel, C.J.

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