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...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Compulsory-acquisition compensation attributable to development rights transferred under a pre-existing development agreement is discussed as not accruing to the land-holding company where the developer held exclusive commercial rights, funded the acquisition, and bore development risks. The notes distinguish an overriding contractual obligation from an application of income after accrual. They further state that taxing the same transferred compensation again in the land-holder's hands, after its taxation in the developer's hands, would create impermissible double taxation without statutory authority. Consistent treatment is also identified as relevant where materially identical development arrangements have received different tax treatment.
Compulsory-acquisition compensation attributable to development rights transferred under a pre-existing development agreement is discussed as not accruing to the land-holding company where the developer held exclusive commercial rights, funded the acquisition, and bore development risks. The notes distinguish an overriding contractual obligation from an application of income after accrual. They further state that taxing the same transferred compensation again in the land-holder's hands, after its taxation in the developer's hands, would create impermissible double taxation without statutory authority. Consistent treatment is also identified as relevant where materially identical development arrangements have received different tax treatment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
