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...
Interest and dividend income from investments with co-operative societies and co-operative banks qualified for the claimed deduction because the statutory condition was met where income arose from such investments. The remaining additional depreciation for machinery used for less than 180 days in the preceding year was allowable for the relevant assessment year under the amended third proviso, which permits the balance claim in the immediately succeeding year from 1 April 2016. Milk cans and artificial insemination and laboratory equipment could qualify as plant and machinery for additional depreciation where normal depreciation was allowed and other conditions were satisfied. All proposed questions were decided for the co-operative society, and the tax appeals were dismissed.
Interest and dividend income from investments with co-operative societies and co-operative banks qualified for the claimed deduction because the statutory condition was met where income arose from such investments. The remaining additional depreciation for machinery used for less than 180 days in the preceding year was allowable for the relevant assessment year under the amended third proviso, which permits the balance claim in the immediately succeeding year from 1 April 2016. Milk cans and artificial insemination and laboratory equipment could qualify as plant and machinery for additional depreciation where normal depreciation was allowed and other conditions were satisfied. All proposed questions were decided for the co-operative society, and the tax appeals were dismissed.
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