Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Execution and registration of the sale deeds transferred ownership rights and completed the transfer of immovable property for capital gains purposes, so short-term capital gains were taxable in AY 2014-15. Delayed receipt of consideration, dishonoured cheques, continued possession, or later disputes did not defer taxability where the registered deeds remained valid and were neither cancelled nor legally rescinded. The Tribunal upheld the addition on timing of transfer, but directed the AO to verify whether the same capital gain had already been assessed in AY 2016-17 and, if so, grant consequential relief to prevent double taxation.
Execution and registration of the sale deeds transferred ownership rights and completed the transfer of immovable property for capital gains purposes, so short-term capital gains were taxable in AY 2014-15. Delayed receipt of consideration, dishonoured cheques, continued possession, or later disputes did not defer taxability where the registered deeds remained valid and were neither cancelled nor legally rescinded. The Tribunal upheld the addition on timing of transfer, but directed the AO to verify whether the same capital gain had already been assessed in AY 2016-17 and, if so, grant consequential relief to prevent double taxation.
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