Table of Contents of the Book: 8170949513

Contents

Preface to the 21st Edition


ABC of Capital Gains

Actual Cost

Additional Compensation

Additional Ground of Appeal on Capital Asset

Adventure in the Nature of Trade

Adventure in the Nature of Trade v. Capital Gain

Agricultural Land

Agricultural Land Received as Gift and Developed and Sold as Plot

Agricultural Land Sale and New Land Purchase in Soni's Name as Co-owner Still Tax Deduction Entitled

Agricultural Land Sale -- No Capital Gains Even if Agricultural Income Not Shown in Income-tax Return

Agricultural Land within a Municipality is a Capital Asset

Allotment of Flat and Payment of First Instalment

Amalgamation and Transfer of a Capital Asset

Amalgamation of Companies

Amount Forfeited Liable to Income-tax

Amount Paid to Retiring Partner

Amount Received for Giving a Right of Specific Performance

Amount Received for not Engaging in Competitive Business

Amount Received in Excess of Share from Firm

Asset to be a Capital Asset on the Date of Transfer

Assets Distribution to Shareholders on Liquidation

Assets Distributed to Shareholders on Winding up

Assets Given Under Agreement to Live Apart

Assets Owned by Firm Transferred to Other Firm

Assignment of Contract

Bifurcation and Apportionment of Sale Consideration between Land and Factory Building

Bifurcation of Capital Gains into Long-term Capital Gains and Short-term Capital Gains in the case of Land and Building

Bifurcation of Consolidated Price

Boardi's (CBDT) Circulars

Bogus Capital Gains

Bonds

Bonus Shares and Capital Gains

Brand Name

Burden to Prove Investment of Capital Gain in Residential House on the Assessee

Business Income or Capital Gains

Business Income on Short-term Capital Gains

Business Undertaking

Capital Asset

Capital Contribution by a Partner

Capital Gains ab initio Null and Void on Sale of Land

Capital Gain Account Scheme

Capital Gains Accrual

Capital Gains Accruing on Agreement to Sell

Capital Gain and Purchase of New Property in the Name of other Family Member

Capital Gain and Investment in Partial Incomplete House

Capital Gain Arising from Shares Acquired on Amalgamation of a Company

Capital Gain Arising from Transfer of an Asset by Way of Compulsory Acquisition

Capital Gains Assessable as Business Income

Capital Gain Benefit Available only for Purchase of Residential House and not Merely Purchase of Temporary Structure

Capital Gain Concept

Capital Gain Exemption on Investment in Specified Bonds, namely Capital Gain Bonds

Capital Gains Exempted on Purchase of Residential Property before Furnishing Income-tax Return under Section 139(4)

Capital Gains Exemption to Charity Trust

Capital Gain from the Acquisition of industrial Undertaking

Capital Gain from Transfer of Residential House

Capital Gains in Real Estate Transactions

Capital Gain in the case of Firm

Capital Gain on Lending of Securities through RBI

Capital Gains on Compensation on Compulsory Acquisition of Urban Agricultural Land -- Section 10 (37)

Capital Gains on Compulsory Acquisition on Date of Actual Possession and not on the Date of Notification

Capital Gain on Conversion of Leasehold Property Rights to Freehold Property Rights

Capital Gain on Family Partition

Capital Gains on Sale of Land with Building when Building is Demolished

Capital Gain on Sale of Shares, Debentures, etc. Received under ESOP

Capital Gain or Business Income

Capital Gains Utilised for Setting up New Factory

Capital Loss to a Shareholder on Liquidation can be Set off or

Carried Forward and Set off

Carry-forward and Set-off of Losses under "Capital Gains"

Casual Nexus between Transfer and Gain

Charitable Trust and Capital Gain

Clubbing Provision and Capital Gains

Compensation and Salvaging Expenses

Compensation etc. when Capital Gain

Compensation for Compulsory Acquisition of Agricultural Land

Compensation in Pursuance of Interim Order

Compensation on Acquisition of Agricultural Land in Urban Areas results into Assessable Capital Gains

Compensation Paid by Insurers

Compensation Paid to Tenants for Delivering Vacant Possession

Compensation Reduced

Compromise Agreement and Payment to Father

Compromise Decree and Deduction

Compulsory Acquisition of Land and Dispute Regarding Quantum of Compensation

Computation of Capital Gain and Deduction of the Cost of Acquisition & Improvement

Computation of Capital Gain Where There is no Cost of Acquisition

Computation of Capital Gains in the Case of a Depreciable Asset

Computation of Capital Gains after Deduction as per Cost Inflation Index

Computation of Capital Gains and Deduction of Brokerage

Computation of Capital Gains and Valuation Adopted in Case of a Co-owner

Consolidated Price of Capital Asset

Constitutional Validity

Construction Amount Paid to Builder

Construction before Transfer not Entitled to Exemption

Construction of Building Not Worth Occupying

Construction of House -- Meaning of

Conversion of Bonds into Shares or Debentures

Conversion of Firm into Company and Allotment of Shares to Partners

Conversion of Land from Leasehold to Freehold and Transfer Thereof

Conversion of Partnership Firm into a Company

Conversion of Partnership from into a LLP

Conversion of Private Limited Company into a LLP

Conversion of Proprietary Business into Firm

Conversion of a Sole Proprietary Concern into a Company

Corporatisation of a Stock Broker's Card

Corporatisation of Stock Exchange and Capital Gains Tax Exemption to Facilitate De-mutualisation and Corporatisation

Cost of Acquisition of Inherited Assets

Cost of Acquisition of Amount Paid to Obtain Additional Share in HUF

Cost Inflation Index

Cost of Acquisition

Cost of Acquisition of an Asset Acquired Prior to 1-4-1981

Cost of Acquisition of Leasehold Rights

Cost of Acquisition and Cost of Improvement in Case of a Right to Manufacture, Produce or Process any Article or Thing

Cost of any Improvement

Cost of Bonus Shares

Cost of Improvement of Owner's Title

Cost to HUF Coparcener

Cost with Reference to Certain Modes of Acquisition

Cut-off Date for Treating Land as Agricultural Land

Dairy Business and Sale of Calves

Damages and Consent Decree

Date of Allotment to be Considered for Capital Gains

Date of Execution of Conveyance Deed to Decide Capital Gain

Date of Possession of Cooperative Society Flat

Date of Transfer

Dealer in Shares not Liable to Capital Gains

Death of Partner and Transfer of Assets

Debentures

Deduction of Dues of Sale Proceeds

Deduction of the Cost of Improvement

Deductions in Computation of Taxable Capital Gains

Deduction of Additional Expenditure not Allowed in Computing Capital Gain

Deductions in Computing Capital Gain

Deemed Capital Gains

Deemed Capital Gain on Dissolution of Firm, etc

Deemed Short-term Capital Gain

Delivery Based Transactions with Investment Motive would be Short-term Capital Gains

Demergers and Capital Gains

Deposit of Unutilised Money into Bank and Exemption

Depreciable Assets

Depreciable Assets and Cost Inflation Index

Depreciable Assets and Sale of Fixed Assets

Determination of the Date of Transfer and the Period of Holding of Securities held in Dematerialized Form under Section 45(2A)

Devaluation Gains

Difference between Sale Price and Fair Market Value

Distribution of Capital Assets

Distribution of Capital Assets on Dissolution of Firm, etc

Distribution of Capital Assets on Partition of Hindu Undivided Family

Embezzled Amount resulting in a Loss to the Transferor not Deductible

Employee Stock Options and Capital Gains

Enhancement of Compensation

Equity Shares Cost under Section 80CC

Estate Duty Payment not to be Treated as Cost of Acquisition

Excess of Compensation over Book Value of the Share

Exchange and Capital Gains

Exemption of Capital Gain on Conversion of a Firm into a Company

Exemption of Capital Gain on Conversion of a Sole Proprietary Concern

Exemption of Capital Gains on Demergers

Exemption of Capital Gains on Stock Lending -- Section 47(xv)

Exemption of Capital Gains on Transfer of a Membership Right of Stock Exchange

Exemption of Capital Gains Regarding Transfer of Agricultural Land

Exemption of Capital Gains Regarding Compulsory Acquisition

Exemption of Capital Gains Regarding Reverse Mortgage

Exemption of Capital Gains Regarding Shifting of Industrial Undertakings

Exemption of Capital Gains Tax on Corporatisation of Stock Exchange

Exemption of Interest and Long-term Capital Gains of an Infrastructure Capital Fund or Infrastructure Capital Company from Investments

Exemption of Long-term Capital Gain

Exemption of Long-term Capital Gains on Investment in Bonds of NHAI and REC: Section 54 EC

Exemption of Long-term Capital Gains on Investment in Specified Mutual Funds, Bonds and Debentures: Section 54EA and 54EB

Exemption of Long-term Capital Gains on Sale of Listed Securities & Units, etc.

Exemption of Long-term Capital Gains on Sale of a Residential House Property

Exemption of Long-Term Capital Gains on Securities & Units, Securities Transaction Tax and Lower Tax on the Short-term Capital Gains -- Sections 2(38), 111A & AD & Ch. VII.

Exemption of Long-term Capital Gains Regarding any other Asset

Exemption of Sale Proceeds of Second Site Invested in Development of First Residential House

Exemption under Section 54 or under Section 54E

Expenditure Incurred for Vacating Hutment Dwellers

Expenses Incurred in Removing Encumbrance to Transfer

Expenditure Incurred Wholly and Exclusively in Connection with Transfer

Extinguishment of Rights

Fair Market Value

Fair Market Value Deemed to Be Full Value of Consideration

Fair Market Value of CA Acquired before 1 April, 1981 and Capital Gains

Fair Market Value on Dissolution

Family Arrangement

Fictional Income and Capital Gains

Firms Assets Taken Over by a Partner

Firm's Dissolution and Capital Gains

Firm's Immovable Property and Partners

Firm's Property Withdrawn by Partners

First Instalment of Payment for Property Relevant for Capital Gains

Foreign Company Selling Business to an Indian Company

Foreign Company Amalgamating with Wholly Owned Subsidiary

Foreign Company not Liable to Capital Gains

Foreign Company Selling Original as well as Bonus Share to Indian Company

Forfeiture Company Transferring Shares to its Foreign Subsidiary Company Abroad is not Liable to Capital Gains

Forfeiture or Withdrawal of Exemption
Gift Shares

Giving up Right to Claim Specific Performance of Contract Results into Taxable Capital Gain

Global Depository Receipts and Concessional Rate of Tax on Capital Gains -- Section 115ACA

Going Concern Sale

Gold, Gold Bonds and Gold Deposit Bonds

Goodwill and Capital Gains

Government Securities

Granting of Sub-lease Constitutes Transfer and Assessable Capital Gain

Heirloom Jewellery Recognised as Dynastic Jewellery by Central Government Constitutes "Personal Effects" of Rulers

Held v. Owned by an Assessee

Hindu Undivided Family and Exemption of Capital Gains

Holding Company"s Transfer to Subsidiary Company

House Property and Capital Gains

House Property not used as Residence

HUF and Common Hotchpotch

Illegal Possession of Lessee

Immovable Property

Improvement of Capital Asset and Capital Gains

Indexed Cost of Acquisition

Indexed Cost of Improvement

Infrastructure Capital Fund or Company

Inherited Capital Asset and Capital Gains

Inseparable Goodwill Deducted

Insurance Amount in Excess of Cost

Insurance Claim against Destruction of Factory Building

Interest on Amount Borrowed for Purchase of Property is Cost of Acquisition of Property, hence Deductible

Interest on Delayed Payment of Unearned Increase

Interest on Enhanced Compensation

Interest Paid for Acquisition of Shares to be Capitalized

Investment in Expansion of Existing Residential House not entitled to Capital Gains Tax Benefit

Investment in Foreign Residential Property not allowed for Saving Capital Gain Tax

Investment in Purchase of Two Flats under Two Agreements from Different Sellers Valid to Save Capital Gains

Investment of Bonds in Joint Names

Investment of Capital Gains by Charity Trust in Bank Fixed Deposit

Investment of Sale Consideration in Residential House the Land of which was Owned by Assessee's Wife Entitles for Tax Exemption

Investor or Trader in Shares

Jewellery for Personal Use

Land Acquisition Compensation

Land and Building Bifurcation

Land for Agricultural Purposes

Land Sale by a Sick Industrial Company Managed by a Workers' Co-operative

Leasehold Rights

Liquidated Damages

Liquidation and Capital Gains

Loan Repayment Not Deductible While Transferring Property

Long-term Capital Asset

Long-term Capital Gain

Long-term Capital Gains on Non-equity Oriented Mutual Funds

Long-term Capital Gains on Transfer of Securities -- Section 10(38)

Long-term Capital Gains or Business Income

Long-term Capital Loss

Loom-hours and Capital Gains

Loss on Redemption of Bonds Deductible

Loss on Revaluation of Shares

Loss on Sale of Capital Assets

Loss on Sale of Irredeemable Preference Shares held as Short-term CL

Losses under the Head "Capital Gains"

Lower Capital Gains Tax on Unlisted Securities by Non-Resident

Machinery Sale

Market Value for Asset Acquired prior to 1 April 1981

Market Value to be taken as Cost of Acquisition

Meaning of Residential House for the Purpose of Section 54 and 54F

Membership of the Stock Exchange

Mesne Profits Not Taxable as Capital Gains

Mortgage Discharged by Vendee on Behalf of Vendor

Mortgage is a Capital Asset

Non-Agricultural Potential Land

No Capital Gains on Adjustment of Shares among Family Members

Non-Compete Fees

Non Payment of Entire Purchase Price

Non-Genuine Transaction of Purchase and Sale of Shares

Non-Resident and Cost of Acquisition of Shares

Non-Resident Indians and Capital Gains

Non-Resident Holding Shares in Indian Company and Transferring to Non-resident Company

Occupation of Property Sold

Option to Adopt Fair Market Value

Option to Substitute Fair Market Value

Owelty, Family Settlement and Capital Gains

Partition of Hindu Undivided Family and Distribution

Partner"s Capital Contribution

Passing of Title in Goods

Penalty for Furnishing Inaccurate Valuation not Permissible on the Basis of Valuation Officer"s Report

Personal Effects and Capital Gains Exemption

Possession on Part Performance

Potential Gain without Transfer

Previous Owner

Profit on Sale of Shares Assessable as Capital Gains

Profit on Sale of Shares Treated as Capital Gain as Shares not Treated as Stock in Trade

Property Acquired without Cost

Property with Boundary Wall and Garage cum Room not a Residential House

Purchase and Sale of Share not Capital Gain but Business Income

Purchase and Sale of Shares within a Short Period would be Capital Gain

Purchase of Agricultural Land to Save Capital Gain

Purchase of Four Portions of Property to Save Capital Gains

Purchase of House Property and Exemption

Purchase of Two Flats which were Combined to make one

Residential Unit Valid for Claiming Exemption u/s 54

Rate of Income Tax on Long-term Capital Gains

Reassessment of Capital Gains

Redemption of Preference Shares

Reduction in Face Value of Shares

Reference to departmental Valuation Officer for Capital Gains Purpose

Reference to Valuation Officer

Reinvestment of Capital Gains in New Floor of the Same Building

Registration of Transfer of Property

REITS -- Taxation of Capital Gains

Relinquishment of Rights over Capital Assets Amounts to Transfer

Relinquishment of the Capital Asset

Renunciation of Rights Shares

Renunciation of Right to Subscribe Right Shares

Report of Departmental Valuation Officer

Requisition and Acquisition of Immovable Property

Re-purchase of House Sold and Availability of Exemption

Residential House Sale and Purchase of New House in the Name of Wife Saves Capital Gains

Residential Property Transfer

Residential Property Transferred by AOP

Revaluation of Assets on Reconstitution of Firm

Reverse Mortgage

Right in Property

Right of Possession

Right to Construct Additional Storey on Account of Increase in FAR is CR

Right to Manufacture, Produce or Process any Article or Thing or

Right to Carry on any Business

Right to Obtain a Conveyance

Rights Shares and Rights Entitlement, etc

Right to Subscribe Shares / Debentures on the Basis of Existing Holding

Right to Sue

Rubber Estate with Yielding Trees

Rubber Plantation and Capital Gains

Rural Agricultural Land

Sale Deed showing Lesser Amount than Shown in Agreement Still Correct for Capital Gains Computation

Sale of Assets of Firm

Sale of Immovable Property by Partner to Firm

Sale of Land and Superstructure

Sale of Plot is to be considered for CAPITAL GAIN and not for Business Profit

Sale of Property by Partner which was Previously Owned by Firm

Sale of Stock-in-trade Converted or Treated as such from a Capital Asset

Sale of Unlisted Shares

Sale Proceeds Invested in a Flat under Construction Amounts to Construction

Sale Proceeds Invested in Residential House in the Name of Adopted Son not Entitled to Tax Exemption

Scheme for Deposit of Unutilised Amount

Separate Bifurcation of Price for Land and Building

Separate Folios for Investment and for Trade Results into Share Trader as well as Investor

Share or Stock of a Company

Shareholder"s Liability in case of Liquidation

Shares and Securities

Shares Buying and Selling by Company -- Business or Capital Gains

Shares Investment Out of Own Funds after Delivery and Payment Profit is Capital Gains and Not Business Income

Share Transfer to Subsidiary Companies

Shifting of Industrial Undertaking from Urban Area

Short-term Capital Asset

Short-term Capital Gain

Short-term Capital Loss

Short-term, Long-term Capital Gains Depending on the Base when the rights were acquired under the agreement

Silver Utensils

Slump Sale -- No Capital Gains

Slump Sale

Slump Sale and No Capital Gain

Solatium

Stamp Duty Rate to be taken for Actual Consideration

Stock Exchange Corporatisation

Stock-in-trade

Stock Lending

Subsidiary Company"s Transfer to Holding Company

Sum received by a Partner on Dissolution or Retirement

Surrender of Lease

Surrender of Shares in Exchange of Land amounts to Transfer

Surrender of Tenancy Rights

Tax Assessment as Individual or as AOP

Tax Exemption on Joint Purchase of Residential House

Tax on Long-term Capital Gains

Tax on Long-term CAPITAL GAINs in regard to Shares, Units and Securities -- Section 112

Tax Treatment of Capital Gain not Utilised under Section 54F

Taxation Regime for Real Estte investment Trust (REIT)

Tax Treatment of Enhanced Compensation

Tehsildar Report about Land being Beyond Eight Kilometres from Municipal Limit hence Gains from Transfer Exempted

Tenancy Rights

Tests for Agricultural Land

Time of Transfer

Total Income to Include Capital Gains

Trade Mark

Transactions Deemed to be Sale

Transactions Not Regarded as Transfer

Transfer

Transfer of Assets by Private Company or Unlisted Public Company to LLP Not Liable to Tax

Transfer of a Capital Asset

Transfer of Agricultural Land

Transfer of Entire Business

Transfer of Immovable Properties of the Firm to Partners by Mere Book Entries

Transfer of Membership Rights in Stock Exchange consequent to Demutualisation or Corporatisation

Transfer of Non-residential House Property and Other Assets

Transfer of Property under Mortgage

Transfer of Residential House Property

Transfer of Stock-in-trade

Transfer of Undertaking to Wholly Owned Subsidiary Company

Transfer on Amalgamation

Transfer to a Company

Understatement of Consideration

Unearned Increase paid to Land and Development Office

Uniform Rate of Exchange

Units of UTI Mutual Fund and Other Mutual Funds

Urban Land Tax and Corporation Tax Not Deductible from Capital Gain

Urban Agricultural Land

Valuation of Capital Assets

Valuation Report of Valuer

Winding up of a Company

Withdrawal of Exemption

Year of Taxability of Capital Gains