AO Could Have Referred Capital Asset u/s 55A During Assessment, But Did Not; Capital Gains Taxable Upon Transfer.

AO Could Have Referred Capital Asset u/s 55A During Assessment, But Did Not; Capital Gains Taxable Upon Transfer. https://www.taxtmi.com/highlights?id=15101 Assessment u/s 153A - The Assessing Officer was fully empowered to refer capital asset to the District Valuation Cell u/s 55A of the Income-tax Act. AO had not done so. - entire income by way of capital gains is chargeable to tax in the year in which the transfer took place. - AT en-us Tue, 15 Oct 2013 12:39:34 +0530 Tue, 15 Oct 2013 12:39:34 +0530 TaxTMI RSS Generator AO Could Have Referred Capital Asset u/s 55A During Assessment, But Did Not; Capital Gains Taxable Upon Transfer. https://www.taxtmi.com/highlights?id=15101 Assessment u/s 153A - The Assessing Officer was fully empowered to refer capital asset to the District Valuation Cell u/s 55A of the Income-tax Act. AO had not done so. - entire income by way of capital gains is chargeable to tax in the year in which the transfer took place. - AT Highlights Income Tax Tue, 15 Oct 2013 12:39:34 +0530 https://www.taxtmi.com/highlights?id=15101