Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Enforceable rights in a specific residential flat can satisfy the requirement of purchase for beneficial exemption relief, so long as the investment is made within the prescribed period and the later conveyance only regularises an earlier arrangement. Capital gains arising from an asset gifted to a spouse can be clubbed in the transferor's hands because "income" in the clubbing provision includes capital gains; once clubbed, the corresponding exemption attached to the spouse's residential investment must also be allowed to avoid distorted computation. Transfer expenses actually incurred and proved by invoices and bank records were allowed in full under the computation provisions, and were not to be reduced merely by reference to ownership share.
Enforceable rights in a specific residential flat can satisfy the requirement of purchase for beneficial exemption relief, so long as the investment is made within the prescribed period and the later conveyance only regularises an earlier arrangement. Capital gains arising from an asset gifted to a spouse can be clubbed in the transferor's hands because "income" in the clubbing provision includes capital gains; once clubbed, the corresponding exemption attached to the spouse's residential investment must also be allowed to avoid distorted computation. Transfer expenses actually incurred and proved by invoices and bank records were allowed in full under the computation provisions, and were not to be reduced merely by reference to ownership share.
Note: It is a system-generated summary and is for quick reference only.
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