Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
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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disputes did not defer taxability where the registered deeds remained valid and were neither cancelled nor legally rescinded.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disputes did not defer taxability where the registered deeds remained valid and were neither cancelled nor legally rescinded.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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