Muthurajan v. Deputy Commission of Income Tax

Commissioner of Income Tax vs. Ansal Properties & Infrastructure Ltd

The appeals are disposed of

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE R.V.EASWAR

…ch an asset is sold, it would result in short term capital gain, which would be exigible to tax and for this reason, we say that there is no loss to Revenue either.‖ 25. Madras High Court in S. Muthurajan versus Deputy Commission of Income Tax, (2011) 339 ITR 301 (Mad) had examined Section 50(2) and interpreted the same. In the said case, the assessee had separate units/divisions and one of the units was sold. Question arose whether the gain from the sale of the said unit was separately taxable as a short term capital gains though the block of assets, i.e., assets carrying/having same rate of depr…

Commissioner of Income Tax vs. Ansal Properties & Infrastructure Ltd

The appeals are disposed of

…ch an asset is sold, it would result in short term capital gain, which would be exigible to tax and for this reason, we say that there is no loss to Revenue either.‖ 25. Madras High Court in S. Muthurajan versus Deputy Commission of Income Tax, (2011) 339 ITR 301 (Mad) had examined Section 50(2) and interpreted the same. In the said case, the assessee had separate units/divisions and one of the units was sold. Question arose whether the gain from the sale of the said unit was separately taxable as a short term capital gains though the block of assets, i.e., assets carrying/having same rate of depr…

CIT vs. Ansal Properties & Infrastructure Ltd

The appeals are disposed of

…ch an asset is sold, it would result in short term capital gain, which would be exigible to tax and for this reason, we say that there is no loss to Revenue either.‖ 25. Madras High Court in S. Muthurajan versus Deputy Commission of Income Tax, (2011) 339 ITR 301 (Mad) had examined Section 50(2) and interpreted the same. In the said case, the assessee had separate units/divisions and one of the units was sold. Question arose whether the gain from the sale of the said unit was separately taxable as a short term capital gains though the block of assets, i.e., assets carrying/having same rate of depr…

ITA Nos. 601/2011 & 602/2011 vs. Ansal Properties & Infrastructure Ltd

The appeals are disposed of

…ch an asset is sold, it would result in short term capital gain, which would be exigible to tax and for this reason, we say that there is no loss to Revenue either.‖ 25. Madras High Court in S. Muthurajan versus Deputy Commission of Income Tax, (2011) 339 ITR 301 (Mad) had examined Section 50(2) and interpreted the same. In the said case, the assessee had separate units/divisions and one of the units was sold. Question arose whether the gain from the sale of the said unit was separately taxable as a short term capital gains though the block of assets, i.e., assets carrying/having same rate of depr…