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...
Section 57(iii) deduction requires expenditure to be laid out wholly and exclusively for earning the relevant income, and the Tribunal allowed only proportionate interest linked to the loan traceable to the advance, while disallowing the balance for lack of direct nexus. Transfer of dematerialised shares from the assessee's demat account to his mother's account was treated as a transfer of a capital asset, so capital gains computed on a deemed consideration basis were sustained. The Tribunal also upheld admission of an alternative section 54F claim for examination in appeal and permitted set-off of F&O loss under the loss-set-off provisions despite the claim not being raised in the return.
Section 57(iii) deduction requires expenditure to be laid out wholly and exclusively for earning the relevant income, and the Tribunal allowed only proportionate interest linked to the loan traceable to the advance, while disallowing the balance for lack of direct nexus. Transfer of dematerialised shares from the assessee's demat account to his mother's account was treated as a transfer of a capital asset, so capital gains computed on a deemed consideration basis were sustained. The Tribunal also upheld admission of an alternative section 54F claim for examination in appeal and permitted set-off of F&O loss under the loss-set-off provisions despite the claim not being raised in the return.
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