Capital gain_urgent

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Querist : Anonymous

Querist : Anonymous (Querist)

24 August 2016 ABC is real state pvt ltd company and we had one property as stock. We sold this to our relative at 1 Cr and relative took the loan to repay this amount our company. now we have got the actual buyer who can purchases the property in Rs75 lacs . We will have the Short term capital Loss in the relative account.
This capital loss we need to book in our pvt company. Can you suggest how to make this transaction. we have not sold property to buyer yet.

Anand

Anand (Expert)
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25 August 2016 Curious to know if there is a solution to this!

Amol S Joglekar

Amol S Joglekar (Expert)
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25 August 2016 if the company has SOLD the flat to relative......the transaction is over.....
Why do you think that the same is appearing in the STOCK of company?

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Querist : Anonymous

Querist : Anonymous (Querist)

25 August 2016 Sir, now company needs money and having actual buyer then how company can book loss in their books

please advive.

Querist : Anonymous

Querist : Anonymous (Querist)

25 August 2016 Sir, now company needs money and having actual buyer then how company can book loss in their books

please advice.

Amol S Joglekar

Amol S Joglekar (Expert)
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25 August 2016 Ok tell me one thing.......
if company wants to book LOSS, then why to sell flat flat.....
why not sale EIFFEL tower?

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Querist : Anonymous

Querist : Anonymous (Querist)

25 August 2016 Sir, can i expect solution from you as you are senior and always give good and correct answer.
any idea
please.....

Amol S Joglekar

Amol S Joglekar (Expert)
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25 August 2016 you are trying to forget the BASIC......the thing which is NOT owned by the COMPANY.... how the hell you can dream of selling????????? How can any one give solution also??????

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Ikesh Nagpal

Ikesh Nagpal (Expert)
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25 August 2016 Let abc co purchase the property at 1cr and then sell it too seller

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Querist : Anonymous

Querist : Anonymous (Querist)

25 August 2016 Thanks Ikesh..... even that what i thought
to give one more thought, is there any way that company and his relative will be merged and loss can availed by company.

Amol S Joglekar

Amol S Joglekar (Expert)
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25 August 2016 it is likely to be treated as SHAM and DUBIOUS transaction. Please note.

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CA A RAMVEL

CA A RAMVEL (Expert)
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25 August 2016 Your question is not clear...

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Amol S Joglekar

Amol S Joglekar (Expert)
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26 August 2016 due to recession, the ACCOMMODATION transaction is entered into between the company and one of its relatives. and now company wants to take benefit of Short Term Capital Loss...???????

Ikesh Nagpal

Ikesh Nagpal (Expert)
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26 August 2016 If merger can be done, thats the best option but u mentioned that the other person have taken it as a stock! If the other person is treating as capital asset then merger is the best option

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S S Dahale

S S Dahale (Expert)
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27 August 2016 Miserable things have been thought and executed with afterthought to cover up the same , like the same here , as company ABC has already alienated it to a relative (?) , if company wants to sell the same (though not being REAL owner), to a buyer , let there be a conveyance deed for earlier deed either , cancellation or or else so called RELATIVE should file a civil suit for cancellation of deed against company , and company should also agree to it , get mutual consent order and then either make a tripartite agreement between all of 3 , but how it will help company to show losses of 25 lacs is a question.

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Amol S Joglekar

Amol S Joglekar (Expert)
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27 August 2016 The recession in the industry has called for many such funds raising measures in the economy....ignore the same