capital gains vs business income

Sec. 234A, Section 119

Kerala H.C : Whether since assessee disputed his liability to pay tax on capital gains and interest levied giving effect to capital gains based on receipt of compensation, it would not absolve him from paying tax on capital gains, and, thus, there was no merit in writ petition challenging reassessment filed by assessee

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High Court Of Kerala C.V. Jayachandran Vs. Chief Commissioner of Income-tax, Trivandrum Section 234A, 119 Muhamed Mustaque, J. Wp(C) No.

Sec. 260A, Sec. 143(3), Sec. 153A, Sec. 2(47), Sec. 271(1)(c ), Section 132, Section 153, Section 271

Karnataka H.C : The amount received of Rs.3.47,75,000/-by the assessee from L & T, the developer of the adjoining land in respect of the transfer of 7575.37 square meters of FAR in assessee’s residential plot measuring 1.6 acres is not transferable as the same is not a capital asset and consequently no capital gains can be levied

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High Court Of Karnataka CIT & Anr. vs. Dinesh D. Ranka Section : 260A, 143(3), 132, 153A, 271(1)(c), 2(47) Asst.

Income Tax Case Laws, Section 147, Section 150

Gujarat H.C : the petitioner has prayed for an appropriate writ, direction and order to quash and set aside the impugned notice dated 30.7.2013 issued under section 148 of the Income Tax Act (for short “the Act”) (Annexure A to the petition), by which the assessment for AY 2005-06 is sought to be reopened after a period of six years from the relevant assessment years

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High Court Of Gujarat Devendra Somabhai Naik vs. ACIT Section : 150, 147 M. R. Shah And S.H. Vora, JJ.

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