Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
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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