Reopening assessments beyond four years requires nondisclosure of material facts; mere change of opinion or general allegations invalidates reassessme...
Page of 4830
Press 'Enter' after typing page number.
6381 to 6400 of 96587 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Consideration received for granting development rights under a redevelopment agreement was treated as capital gains because the payment was directly linked to transfer of valuable development rights, which are capital assets; mere retention of rights in the redeveloped premises did not negate the transfer, and the developer's accounting treatment was irrelevant. As the receipt was referable to transfer of a capital asset, it could not be assessed under the residuary head of income. On that basis, the related exemption for investment in REC bonds was allowed, subject to verification of the statutory conditions.
Consideration received for granting development rights under a redevelopment agreement was treated as capital gains because the payment was directly linked to transfer of valuable development rights, which are capital assets; mere retention of rights in the redeveloped premises did not negate the transfer, and the developer's accounting treatment was irrelevant. As the receipt was referable to transfer of a capital asset, it could not be assessed under the residuary head of income. On that basis, the related exemption for investment in REC bonds was allowed, subject to verification of the statutory conditions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
