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...
Rule 11UA(2) permits an assessee to choose either the NAV or DCF method for valuing unquoted equity shares. Where the NAV method is selected and the audited-financial-statement computation is not disputed, income-tax authorities may scrutinise the valuation only within that method and cannot substitute another approach; a share-premium addition based on rejecting the NAV valuation is therefore unsustainable. Income-tax authorities cannot sustain such an addition by determining alleged FEMA contraventions, particularly where no competent FEMA authority has alleged a violation. A right-share issue is not a colourable device without a demonstrated tax benefit or unaccounted-money element. The share-premium addition was directed to be deleted.
Rule 11UA(2) permits an assessee to choose either the NAV or DCF method for valuing unquoted equity shares. Where the NAV method is selected and the audited-financial-statement computation is not disputed, income-tax authorities may scrutinise the valuation only within that method and cannot substitute another approach; a share-premium addition based on rejecting the NAV valuation is therefore unsustainable. Income-tax authorities cannot sustain such an addition by determining alleged FEMA contraventions, particularly where no competent FEMA authority has alleged a violation. A right-share issue is not a colourable device without a demonstrated tax benefit or unaccounted-money element. The share-premium addition was directed to be deleted.
Note: It is a system-generated summary and is for quick reference only.
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