Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Section 50 applies only as a limited deeming fiction for computing capital gains on depreciable assets and does not change the asset's character for all purposes. The Tribunal held that where the asset was held beyond the prescribed period, the resulting gain could be computed under section 50 but remained taxable at the long-term capital gains rate, not as short-term capital gain merely because depreciation had been claimed earlier. It also sustained adoption of the written down value as the cost of acquisition, rejecting indexation from original cost and the separate claim for cost of improvement because no supporting evidence was produced.
Section 50 applies only as a limited deeming fiction for computing capital gains on depreciable assets and does not change the asset's character for all purposes. The Tribunal held that where the asset was held beyond the prescribed period, the resulting gain could be computed under section 50 but remained taxable at the long-term capital gains rate, not as short-term capital gain merely because depreciation had been claimed earlier. It also sustained adoption of the written down value as the cost of acquisition, rejecting indexation from original cost and the separate claim for cost of improvement because no supporting evidence was produced.
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