Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Indexation on a capital asset received in amalgamation was held to run from FY 2008-09 because the township had already been constructed and let out by the amalgamating company, with rental income taxed from that year; the tax-neutral transfer under the scheme did not shift the holding period to the later amalgamation order or occupancy certificate. The Tribunal also upheld the claimed short-term capital loss on sale of AIF units to a subsidiary, finding both acquisition and sale valuations followed the NAV method, the fall in value was explained by decline in underlying investments, and a related-party sale is not a colourable device without evidence of tax avoidance. Both revenue appeals were dismissed.
Indexation on a capital asset received in amalgamation was held to run from FY 2008-09 because the township had already been constructed and let out by the amalgamating company, with rental income taxed from that year; the tax-neutral transfer under the scheme did not shift the holding period to the later amalgamation order or occupancy certificate. The Tribunal also upheld the claimed short-term capital loss on sale of AIF units to a subsidiary, finding both acquisition and sale valuations followed the NAV method, the fall in value was explained by decline in underlying investments, and a related-party sale is not a colourable device without evidence of tax avoidance. Both revenue appeals were dismissed.
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