Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Capital gains on transfer of TDR/FSI credit may not arise where the applicable law provides no ascertainable cost of acquisition and the computation mechanism therefore fails. The charging and computation provisions operate as an integrated code, consistent with the principle in CIT v. B.C. Srinivasa Setty. TDR/DRC granted under development regulations in lieu of compensation was treated as a statutory entitlement acquired without monetary expenditure, whose value remained indeterminate until utilisation. The pre-amendment deeming provision did not cover such rights, while the later inclusion of other intangible assets and rights applied only from A.Y. 2024-25 and could not retrospectively cure the gap. The land and TDR were distinct assets, so the land's value could not be treated as the TDR's cost. The reported additions for A.Y. 2016-17 were deleted.
Capital gains on transfer of TDR/FSI credit may not arise where the applicable law provides no ascertainable cost of acquisition and the computation mechanism therefore fails. The charging and computation provisions operate as an integrated code, consistent with the principle in CIT v. B.C. Srinivasa Setty. TDR/DRC granted under development regulations in lieu of compensation was treated as a statutory entitlement acquired without monetary expenditure, whose value remained indeterminate until utilisation. The pre-amendment deeming provision did not cover such rights, while the later inclusion of other intangible assets and rights applied only from A.Y. 2024-25 and could not retrospectively cure the gap. The land and TDR were distinct assets, so the land's value could not be treated as the TDR's cost. The reported additions for A.Y. 2016-17 were deleted.
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