Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Objective characteristics govern magnesium bis-glycinate chelate classification as an amino-acid coordination compound, not a food preparation or anti...
Independent professional certification requires pleaded knowledge or complicity for criminal liability; untimely complaints remain barred by limitatio...
Deduction under section 48(i) was confined to expenditure incurred wholly and exclusively in connection with the transfer, and the assessee had to prove that proximate nexus. Travel and professional charges said to relate to execution of the sale deed required fresh verification, while expenditure incurred long before the transfer or attributable to other persons was not automatically deductible. One-time maintenance, electricity and water deposits were treated as part of the cost of acquisition of the flat because possession depended on those payments. Interest on the loan used to purchase the property was also allowed as cost of acquisition, with indexation, since it had not been claimed earlier as house property deduction.
Deduction under section 48(i) was confined to expenditure incurred wholly and exclusively in connection with the transfer, and the assessee had to prove that proximate nexus. Travel and professional charges said to relate to execution of the sale deed required fresh verification, while expenditure incurred long before the transfer or attributable to other persons was not automatically deductible. One-time maintenance, electricity and water deposits were treated as part of the cost of acquisition of the flat because possession depended on those payments. Interest on the loan used to purchase the property was also allowed as cost of acquisition, with indexation, since it had not been claimed earlier as house property deduction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
