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 ...
The Tribunal held that the 10% tolerance band under the stamp valuation framework applies retrospectively as a curative measure, so no addition survived where the difference between agreement value and stamp duty value was only 2.3%. It also accepted that indexation of cost for flat allotment rights runs from the date of the agreement, since rights accrued on execution and not from the dates of later instalments, leading to deletion of the recomputed disallowance. For the unexplained investment issue, the Tribunal found factual verification was needed and remanded the matter to the Assessing Officer after granting adequate hearing.
The Tribunal held that the 10% tolerance band under the stamp valuation framework applies retrospectively as a curative measure, so no addition survived where the difference between agreement value and stamp duty value was only 2.3%. It also accepted that indexation of cost for flat allotment rights runs from the date of the agreement, since rights accrued on execution and not from the dates of later instalments, leading to deletion of the recomputed disallowance. For the unexplained investment issue, the Tribunal found factual verification was needed and remanded the matter to the Assessing Officer after granting adequate hearing.
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