Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
A later registration of a conveyance deed does not create a separate capital-gains charge where the underlying land was already included in a slump sale of the entire business undertaking and the resulting gain was taxed under section 50B in an earlier assessment year. The Bhiwandi land formed part of the assets transferred for lump-sum consideration, and the later deed was treated as formalising title rather than effecting an independent transfer. Accordingly, isolating that land and taxing the same transfer again in a subsequent year would result in double taxation, and the later long-term capital-gain addition was deleted. A decision concerning an individual immovable-property transfer was distinguished as factually different from a slump sale of an undertaking.
A later registration of a conveyance deed does not create a separate capital-gains charge where the underlying land was already included in a slump sale of the entire business undertaking and the resulting gain was taxed under section 50B in an earlier assessment year. The Bhiwandi land formed part of the assets transferred for lump-sum consideration, and the later deed was treated as formalising title rather than effecting an independent transfer. Accordingly, isolating that land and taxing the same transfer again in a subsequent year would result in double taxation, and the later long-term capital-gain addition was deleted. A decision concerning an individual immovable-property transfer was distinguished as factually different from a slump sale of an undertaking.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
