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...
Section 43CA does not apply to a land-sale transaction where the...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43CA commenced.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Section 43CA does not apply to a land-sale transaction where the agreement to sell was executed and substantial non-cash consideration was received through banking channels before the provision came into force. Although registration occurred later, it merely fulfilled contractual obligations substantively discharged before enactment. Section 43CA, which substitutes stamp-duty value for consideration on transfer of land or buildings held as stock-in-trade, could not be invoked retrospectively in these circumstances. A contrary precedent was distinguishable because payment through account-payee cheques at the agreement stage had not been established there. The stamp-duty valuation addition was deleted, making the valuation-reference plea unnecessary.
Section 43CA does not apply to a land-sale transaction where the agreement to sell was executed and substantial non-cash consideration was received through banking channels before the provision came into force. Although registration occurred later, it merely fulfilled contractual obligations substantively discharged before enactment. Section 43CA, which substitutes stamp-duty value for consideration on transfer of land or buildings held as stock-in-trade, could not be invoked retrospectively in these circumstances. A contrary precedent was distinguishable because payment through account-payee cheques at the agreement stage had not been established there. The stamp-duty valuation addition was deleted, making the valuation-reference plea unnecessary.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
