Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
Where an assessee disputes stamp duty value under Section 43CA and the matter is referred to the DVO, the DVO valuation substitutes the stamp duty value for testing the safe harbour tolerance band. Applying that principle, the Tribunal found that in each impugned transaction the difference between the agreement value and the DVO valuation was below the prescribed 10% margin. As the variation remained within the permissible tolerance, the deeming fiction under Section 43CA could not be invoked and the addition could not survive; the addition was deleted.
Where an assessee disputes stamp duty value under Section 43CA and the matter is referred to the DVO, the DVO valuation substitutes the stamp duty value for testing the safe harbour tolerance band. Applying that principle, the Tribunal found that in each impugned transaction the difference between the agreement value and the DVO valuation was below the prescribed 10% margin. As the variation remained within the permissible tolerance, the deeming fiction under Section 43CA could not be invoked and the addition could not survive; the addition was deleted.
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