Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Jurisdictional objection under section 124(3) failed because the assessee, after receiving notice and participating in the assessment without protest, was treated as having accepted the AO's territorial jurisdiction. For LTCG computation, the Tribunal held that the cost of acquisition of converted land could not be restricted merely because part of the area was left for roads and drainage; the full claimed cost with indexation had to be allowed. Where seized cash and surrounding material showed receipt of on-money, substitution of declared consideration with valuation-based fair market value was upheld. Interest under sections 234A and 234B was deleted because seized cash available with the Revenue should have been adjusted, while section 234C was confined to any default before seizure.
Jurisdictional objection under section 124(3) failed because the assessee, after receiving notice and participating in the assessment without protest, was treated as having accepted the AO's territorial jurisdiction. For LTCG computation, the Tribunal held that the cost of acquisition of converted land could not be restricted merely because part of the area was left for roads and drainage; the full claimed cost with indexation had to be allowed. Where seized cash and surrounding material showed receipt of on-money, substitution of declared consideration with valuation-based fair market value was upheld. Interest under sections 234A and 234B was deleted because seized cash available with the Revenue should have been adjusted, while section 234C was confined to any default before seizure.
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