Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
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The transfer of a capital asset from NPCIL to ASHVINI, both public sector companies, under the Central Government-approved plan is notified as a transaction not regarded as a transfer for the purposes of section 47(viiaf) of the Income-tax Act, 1961, read with section 536(2) of the Income-tax Act, 2025. The notification applies to the financial year of transfer, 2025-26, corresponding to assessment year 2026-27. It gives retrospective effect from that financial year and states that no person is adversely affected by the retrospective operation.
The transfer of a capital asset from NPCIL to ASHVINI, both public sector companies, under the Central Government-approved plan is notified as a transaction not regarded as a transfer for the purposes of section 47(viiaf) of the Income-tax Act, 1961, read with section 536(2) of the Income-tax Act, 2025. The notification applies to the financial year of transfer, 2025-26, corresponding to assessment year 2026-27. It gives retrospective effect from that financial year and states that no person is adversely affected by the retrospective operation.
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