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...
Write-off of dues arising from commodity trading transactions was deductible where the assessee had written the amount off in the profit and loss account during the relevant year and the transactions were undertaken in the ordinary course of business. Contract notes, delivery reports and broker ledger confirmation supported the claim, and the pendency of recovery proceedings did not make it premature. The deduction was allowed as bad debt and, alternatively, as a business loss; the disallowance was deleted.
Write-off of dues arising from commodity trading transactions was deductible where the assessee had written the amount off in the profit and loss account during the relevant year and the transactions were undertaken in the ordinary course of business. Contract notes, delivery reports and broker ledger confirmation supported the claim, and the pendency of recovery proceedings did not make it premature. The deduction was allowed as bad debt and, alternatively, as a business loss; the disallowance was deleted.
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