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...
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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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