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...
Capital-gains exemption for investment in an under-construction residential flat is discussed as available where the taxpayer books the flat promptly, substantially invests the consideration within the statutory period, and the developer's later delay causes delayed completion or registration. Allotment and staged payments are treated as construction through the developer, and a beneficial exemption is described as requiring liberal interpretation where the taxpayer has met obligations. The note also explains that an exemption claim omitted from the return may be admitted on appeal when supporting computation, booking and payment records are already on record; the restriction on fresh claims applies to the Assessing Officer, not appellate authorities.
Capital-gains exemption for investment in an under-construction residential flat is discussed as available where the taxpayer books the flat promptly, substantially invests the consideration within the statutory period, and the developer's later delay causes delayed completion or registration. Allotment and staged payments are treated as construction through the developer, and a beneficial exemption is described as requiring liberal interpretation where the taxpayer has met obligations. The note also explains that an exemption claim omitted from the return may be admitted on appeal when supporting computation, booking and payment records are already on record; the restriction on fresh claims applies to the Assessing Officer, not appellate authorities.
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