Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Page of 4792
Press 'Enter' after typing page number.
221 to 240 of 95833 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
A development agreement does not necessarily constitute a...
Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration defer taxation.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
A development agreement does not necessarily constitute a transfer of immovable property under sections 2(47)(v) or 2(47)(vi) where possession is merely permissive, legal rights remain with the landowner, construction is incomplete, and consideration is not received during the relevant year. Applying the section 53A part-performance standard and the real income principle, the Tribunal's reasoning was that no legal possession, enjoyment, or income had accrued to the assessee in AY 2012-13. Accordingly, no transfer of the capital asset occurred and capital gains were not chargeable for that year. The capital gains addition was deleted, while the section 54F deduction claim was treated as academic.
A development agreement does not necessarily constitute a transfer of immovable property under sections 2(47)(v) or 2(47)(vi) where possession is merely permissive, legal rights remain with the landowner, construction is incomplete, and consideration is not received during the relevant year. Applying the section 53A part-performance standard and the real income principle, the Tribunal's reasoning was that no legal possession, enjoyment, or income had accrued to the assessee in AY 2012-13. Accordingly, no transfer of the capital asset occurred and capital gains were not chargeable for that year. The capital gains addition was deleted, while the section 54F deduction claim was treated as academic.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
