Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
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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