Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Omission of the specified domestic transaction provision for related-party expenditure, without a saving clause for pending actions, treats the omitted provision as if it had never existed. Consequently, transfer-pricing cognizance taken under that omitted provision, the reference to the Transfer Pricing Officer, and consequential transfer-pricing proceedings lack validity. Applying this settled position, the Tribunal allowed the taxpayer's grounds and did not sustain the assessment founded on the impugned transfer-pricing reference.
Omission of the specified domestic transaction provision for related-party expenditure, without a saving clause for pending actions, treats the omitted provision as if it had never existed. Consequently, transfer-pricing cognizance taken under that omitted provision, the reference to the Transfer Pricing Officer, and consequential transfer-pricing proceedings lack validity. Applying this settled position, the Tribunal allowed the taxpayer's grounds and did not sustain the assessment founded on the impugned transfer-pricing reference.
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