Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Annual IPL franchise fee was treated as revenue expenditure because it only enabled participation for the year and did not create an enduring asset; the Revenue challenge failed. Travel, hospitality and related match-arrangement expenses were sustained as business expenditure, subject only to limited verification of supporting bills. Website development expense was also allowed as revenue in nature. Club membership expenditure used for business meetings and interactions was held allowable under section 37(1). Salary provision under mercantile accounting and bonus paid before the return filing due date were held to be accrued and allowable liabilities, so the disallowance was deleted. The Revenue appeals were dismissed.
Annual IPL franchise fee was treated as revenue expenditure because it only enabled participation for the year and did not create an enduring asset; the Revenue challenge failed. Travel, hospitality and related match-arrangement expenses were sustained as business expenditure, subject only to limited verification of supporting bills. Website development expense was also allowed as revenue in nature. Club membership expenditure used for business meetings and interactions was held allowable under section 37(1). Salary provision under mercantile accounting and bonus paid before the return filing due date were held to be accrued and allowable liabilities, so the disallowance was deleted. The Revenue appeals were dismissed.
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