Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
India-UK treaty characterisation of telecom-service receipts as business profits withstands unilateral domestic-law amendments for Indian tax purposes...
Transfer-pricing reimbursement adjustments require uncontrolled comparables and cannot become expense-genuineness reviews, resulting in deletion of th...
Food import sampling requirements support provisional release where unseized consignments conform to standards and raw areca classification is unestab...
Indexed cost of improvement claimed on flats received under a joint development arrangement requires evidence of actual improvement works and related payments. Construction costs were contractually borne by the developer, and the flats were sold in the semi-furnished condition received from the developer. Quotations and estimates for proposed additional work did not establish material purchases, labour payments, or execution of improvements. The NALA component was also unsupported. Consequently, the claimed indexed cost of improvement was disallowed, and the appeal was dismissed.
Indexed cost of improvement claimed on flats received under a joint development arrangement requires evidence of actual improvement works and related payments. Construction costs were contractually borne by the developer, and the flats were sold in the semi-furnished condition received from the developer. Quotations and estimates for proposed additional work did not establish material purchases, labour payments, or execution of improvements. The NALA component was also unsupported. Consequently, the claimed indexed cost of improvement was disallowed, and the appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
