3 results for “capital gains”+ Section 366clear
Sorted by relevance
In the result, the assessee’s appeal is partly allowed
Bench: Sh. Sanjay Arorai.T.A. No. 638/Asr/2017 Assessment Year: 2014-15
Section 49 provides for the cost to the previous owner as the deemed cost of the capital asset transferred to the assessee, which includes a gift u/s. 49(1)(ii). The said decision would thus have no application in the facts and circumstance of the instant case. 5. In view of the fore-going, I have no hesitation in upholding