Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
A registered joint development agreement was treated as not effecting an immediate transfer for capital gains where no consideration was paid on execution and the assessee's right was only to a future 50% share in the constructed area. The arrangement was viewed as enabling the developer to obtain approvals, licences and finance, not as a transfer under part performance. On that basis, long-term capital gains were not taxable in the year of execution; the assessment was quashed, subject to verification of the year in which the share was actually offered to tax.
A registered joint development agreement was treated as not effecting an immediate transfer for capital gains where no consideration was paid on execution and the assessee's right was only to a future 50% share in the constructed area. The arrangement was viewed as enabling the developer to obtain approvals, licences and finance, not as a transfer under part performance. On that basis, long-term capital gains were not taxable in the year of execution; the assessment was quashed, subject to verification of the year in which the share was actually offered to tax.
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