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...
Section 54GB requires an investee company to have been incorporated in India within the stipulated period to qualify as an eligible company for capital-gains exemption. Commencement of business or manufacturing, acquisition of plant and machinery, or MSME registration cannot substitute for the legal incorporation date. A dormant company's later commencement of operations does not change its incorporation date under company law. Although incentive provisions may be construed liberally where ambiguous, an unambiguous exemption condition applies strictly. Investment in a company incorporated before the prescribed period therefore does not qualify for section 54GB exemption.
Section 54GB requires an investee company to have been incorporated in India within the stipulated period to qualify as an eligible company for capital-gains exemption. Commencement of business or manufacturing, acquisition of plant and machinery, or MSME registration cannot substitute for the legal incorporation date. A dormant company's later commencement of operations does not change its incorporation date under company law. Although incentive provisions may be construed liberally where ambiguous, an unambiguous exemption condition applies strictly. Investment in a company incorporated before the prescribed period therefore does not qualify for section 54GB exemption.
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