Tag Archives: Section 55

Defining the cost of acquisition in case of certain assets for computing capital gains

By | February 2, 2023

Defining the cost of acquisition in case of certain assets for computing capital gains BUDGET 2023-24 MEMORANDUM EXPLAINING THE PROVISIONS IN THE FINANCE BILL, 2023 The existing provisions of the section 55 of the Act, inter alia, defines the ‘cost of any improvement’ and ‘cost of acquisition’ for the purposes of computing capital gains. However,… Read More »

Indexation benefit from period asset was first held by previous owner ITAT

By | November 2, 2016

IN THE ITAT VISAKHAPATNAM BENCH Income-tax Officer, Ward-1(2), Guntur v. Padarti Venkata Rama Chandra Rao V. DURGA RAO, JUDICIAL MEMBER AND G. MANJUNATHA, ACCOUNTANT MEMBER IT APPEAL NO. 216 (VIZAG.) OF 2012 [ASSESSMENT YEAR 2009-10] SEPTEMBER  16, 2016 M.N. Murthy Naik, DR for the Appellant. G.V.N. Hari, AR for the Respondent. ORDER G. Manjunatha, Accountant… Read More »