Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Capital gains on an assessee's mortgaged immovable property are computed on the full sale consideration, less admitted deductions, even where a secured creditor sells the property in recovery proceedings and appropriates all proceeds toward another borrower's debt. Appreciation in the owner's property value triggers the charge; a distress sale under an enforceable mortgage or attachment does not alter the computation. The owner's non-receipt of proceeds does not remove liability where the mortgage was voluntarily created with knowledge of default consequences. The capital gains assessment therefore remains sustainable.
Capital gains on an assessee's mortgaged immovable property are computed on the full sale consideration, less admitted deductions, even where a secured creditor sells the property in recovery proceedings and appropriates all proceeds toward another borrower's debt. Appreciation in the owner's property value triggers the charge; a distress sale under an enforceable mortgage or attachment does not alter the computation. The owner's non-receipt of proceeds does not remove liability where the mortgage was voluntarily created with knowledge of default consequences. The capital gains assessment therefore remains sustainable.
Note: It is a system-generated summary and is for quick reference only.
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