Capital Gains Archives

Supreme Court Clarifies Capital Loss on Share Reduction: Jupiter Capital Case (2025)

Date of the Judgment: January 2, 2025 Citation: 2025 INSC 38 Judges: Justice J.B. Pardiwala and Justice R. Mahadevan Can a reduction in share capital lead to a capital loss for tax purposes? The Supreme Court of India recently addressed this question in a case involving Jupiter Capital Pvt. Ltd. The court clarified that a […]

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

May 4, 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)

May 4, 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 »

Supreme Court clarifies ‘cost of improvement’ under Section 55(1)(b) of the IT Act: Commissioner of Income Tax vs. M/s. Paville Projects Pvt. Ltd. (2023)

April 6, 2023 / A.S. Bopanna, Capital Gains, Income Tax Act, 1961, Income Tax Act, 1961 with Section 263, Income Tax Act, 1961 with Section 55(1)(b), Judges, M.R. Shah

Supreme Court clarifies ‘cost of improvement’ under Section 55(1)(b) of the IT Act: Commissioner of Income Tax vs. M/s. Paville Projects Pvt. Ltd. (2023) Date of the Judgment: April 06, 2023 Citation: Civil Appeal No. 6126 of 2021 (@ SLP (C) NO. 13380 OF 2018) Judges: M.R. Shah, J. and A.S. Bopanna, J. Can payments

Supreme Court clarifies ‘cost of improvement’ under Section 55(1)(b) of the IT Act: Commissioner of Income Tax vs. M/s. Paville Projects Pvt. Ltd. (2023) Read Post »

Supreme Court Clarifies Tax Implications of Unregistered Joint Development Agreements: Commissioner of Income Tax vs. Balbir Singh Maini (2017) INSC 859 (04 October 2017)

October 4, 2017 / Capital Gains, Income Tax Act, 1961, Income Tax Act, 1961 with Section 2(47), Income Tax Act, 1961 with Section 45, Judges, R.F. Nariman, Registration Act, 1908, Registration Act, 1908 with Section 17(1A), Registration Act, 1908 with Section 49, Sanjay Kishan Kaul, Transfer of Property Act, 1882, Transfer of Property Act, 1882 with Section 53A

LEGAL ISSUE: Whether an unregistered Joint Development Agreement (JDA) constitutes a “transfer” under Section 2(47)(v) of the Income Tax Act, 1961, making it liable for capital gains tax. CASE TYPE: Income Tax Law Case Name: Commissioner of Income Tax vs. Balbir Singh Maini [Judgment Date]: 04 October 2017 Introduction Date of the Judgment: 04 October

Supreme Court Clarifies Tax Implications of Unregistered Joint Development Agreements: Commissioner of Income Tax vs. Balbir Singh Maini (2017) INSC 859 (04 October 2017) Read Post »