Capital gains treatment applies to transfers and related receipts, including insurance and conversion events, taxed in year of receipt. Chargeability as capital gains applies to profits or gains from transfer of capital assets in the tax year of transfer, with special rules treating insurance receipts for destruction or damage, unit linked policy payouts lacking exemption, conversions into stock in trade, transfers of beneficial interests in securities, transfers to firms where transferor becomes partner, reconstitution receipts computed by a specified formula, enhanced compensation on compulsory acquisition taxed when received, and taxation of transfers under specified real estate development agreements using stamp duty value as full consideration.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Capital gains treatment applies to transfers and related receipts, including insurance and conversion events, taxed in year of receipt.
Chargeability as capital gains applies to profits or gains from transfer of capital assets in the tax year of transfer, with special rules treating insurance receipts for destruction or damage, unit linked policy payouts lacking exemption, conversions into stock in trade, transfers of beneficial interests in securities, transfers to firms where transferor becomes partner, reconstitution receipts computed by a specified formula, enhanced compensation on compulsory acquisition taxed when received, and taxation of transfers under specified real estate development agreements using stamp duty value as full consideration.
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