Capital gains taxation turns on transfer, with special timing rules for compensation, ULIP receipts, and stock-in-trade conversion. Capital gains are chargeable when a capital asset exists, a transfer occurs, and profit or gain arises, subject to specified statutory exemptions. As a general rule, capital gains are taxed in the year of transfer, but special timing provisions apply to insurance compensation, ULIP receipts, conversion into stock-in-trade, compulsory acquisition, approved transfer arrangements, and repurchase of eligible savings units.
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 taxation turns on transfer, with special timing rules for compensation, ULIP receipts, and stock-in-trade conversion.
Capital gains are chargeable when a capital asset exists, a transfer occurs, and profit or gain arises, subject to specified statutory exemptions. As a general rule, capital gains are taxed in the year of transfer, but special timing provisions apply to insurance compensation, ULIP receipts, conversion into stock-in-trade, compulsory acquisition, approved transfer arrangements, and repurchase of eligible savings units.
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