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...
Dividend stripping on mutual fund units: the ITAT held that dividend could not be treated as a return of capital or deducted from cost of acquisition without a specific statutory basis. Section 94's anti-dividend stripping rule applies only when its conditions are cumulatively satisfied; here, the required purchase and sale timing conditions were not both met, so the provision was inapplicable. General survey findings and alleged SEBI violations, without material linking the assessee to manipulation, did not justify branding the transaction as sham. The addition was deleted on merits.
Dividend stripping on mutual fund units: the ITAT held that dividend could not be treated as a return of capital or deducted from cost of acquisition without a specific statutory basis. Section 94's anti-dividend stripping rule applies only when its conditions are cumulatively satisfied; here, the required purchase and sale timing conditions were not both met, so the provision was inapplicable. General survey findings and alleged SEBI violations, without material linking the assessee to manipulation, did not justify branding the transaction as sham. The addition was deleted on merits.
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