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...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
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Income recognised on completion of consultancy services and invoicing should not be taxed again merely because the related tax credit appears in Form 26AS in a later year; the reported addition was deleted after reconciliation of the invoices. Property-transfer charges and commission, although not deductible as business expenditure, were to be considered in computing capital gains because they related to the sale. Professional fees claimed for arranging working-capital funding required proof of their business utility; in the absence of adequate substantiation, only part of the claim was allowed and half was disallowed. The appeal was partly allowed.
Income recognised on completion of consultancy services and invoicing should not be taxed again merely because the related tax credit appears in Form 26AS in a later year; the reported addition was deleted after reconciliation of the invoices. Property-transfer charges and commission, although not deductible as business expenditure, were to be considered in computing capital gains because they related to the sale. Professional fees claimed for arranging working-capital funding required proof of their business utility; in the absence of adequate substantiation, only part of the claim was allowed and half was disallowed. The appeal was partly allowed.
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