Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
Page of 4809
Press 'Enter' after typing page number.
961 to 980 of 96174 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Characterisation of flat-sale proceeds depends primarily on the taxpayer's intention, determined from the totality of circumstances, including the stated objects, consistent investment treatment, period of holding, leasing efforts, absence of other projects, and lack of regular trading activity. Although book treatment is not conclusive, it is relevant. Sales over different years after unsuccessful efforts to obtain tenants did not amount to an adventure in the nature of trade. Where the Revenue had accepted capital-gains treatment in earlier years and no distinguishing facts or incriminating material existed, consistency required the same treatment. The proceeds were therefore assessable as capital gains rather than business income, and the Revenue's appeal was dismissed.
Characterisation of flat-sale proceeds depends primarily on the taxpayer's intention, determined from the totality of circumstances, including the stated objects, consistent investment treatment, period of holding, leasing efforts, absence of other projects, and lack of regular trading activity. Although book treatment is not conclusive, it is relevant. Sales over different years after unsuccessful efforts to obtain tenants did not amount to an adventure in the nature of trade. Where the Revenue had accepted capital-gains treatment in earlier years and no distinguishing facts or incriminating material existed, consistency required the same treatment. The proceeds were therefore assessable as capital gains rather than business income, and the Revenue's appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
