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...
The Tribunal reiterated that the amendment enhancing the tax rate under section 115BBE is substantive and applies prospectively. Income surrendered in a survey conducted before the amendment therefore remained taxable only at the rate then in force, not at the enhanced rate introduced later. Relying on binding jurisdictional precedent, it held that where the survey occurred on 22.09.2016, the Revenue could not apply the amended special rate to the surrendered income. The impugned addition was directed to be deleted.
The Tribunal reiterated that the amendment enhancing the tax rate under section 115BBE is substantive and applies prospectively. Income surrendered in a survey conducted before the amendment therefore remained taxable only at the rate then in force, not at the enhanced rate introduced later. Relying on binding jurisdictional precedent, it held that where the survey occurred on 22.09.2016, the Revenue could not apply the amended special rate to the surrendered income. The impugned addition was directed to be deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
