Business Income

Supreme Court Remands Income Tax Case: Determination of Business Income vs. Capital Gains in Property Development (4 May 2023)

/ B.V. Nagarathna, Business Income, Capital Gains, Income Tax Act, 1961, Income Tax Act, 1961 with Section 50C, Judges, M.R. Shah

Supreme Court Remands Income Tax Case: Glowshine Builders & Developers Pvt. Ltd. (2023) LEGAL ISSUE: Whether the sale of development rights by a real estate developer should be treated as business income or capital gains under the Income Tax Act, 1961. CASE TYPE: Income Tax Law Case Name: Commissioner of Income Tax 8 Mumbai vs. […]

Supreme Court Remands Income Tax Case: Determination of Business Income vs. Capital Gains in Property Development (4 May 2023) Read Post »

Supreme Court clarifies the nature of income from transfer of development rights: Commissioner of Income Tax vs. Glowshine Builders & Developers Pvt. Ltd. (04 May 2023)

/ B.V. Nagarathna, Business Income, Capital Gains, Income Tax Act, 1961, Income Tax Act, 1961 with Section 142(1), Judges, M.R. Shah

Supreme Court Clarifies Income Tax on Development Rights Transfer: Commissioner of Income Tax vs. Glowshine Builders (2023) Date of the Judgment: 04 May 2023 Citation: 2023 INSC 492 Judges: M.R. Shah, J. and B.V. Nagarathna, J. When is the sale of development rights considered a business transaction, and when is it a capital gain? The

Supreme Court clarifies the nature of income from transfer of development rights: Commissioner of Income Tax vs. Glowshine Builders & Developers Pvt. Ltd. (04 May 2023) Read Post »

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