Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Section 48 requires capital gains to be computed using the consideration actually received or accruing, unless an applicable deeming provision permits substitution with fair market value. Redemption proceeds from non-cumulative preference shares therefore cannot be replaced by the price of equity shares in the same company, because the share classes carry different rights and no additional consideration was established. The provision for unquoted-share transfers and the rule for unascertainable consideration do not apply where redemption consideration is ascertainable. A claim for enhanced acquisition cost following capital reduction and consolidation requires factual verification of acquisition records, share identity, legal effect and cost allocation; it cannot be raised as a pure legal ground without an existing factual record.
Section 48 requires capital gains to be computed using the consideration actually received or accruing, unless an applicable deeming provision permits substitution with fair market value. Redemption proceeds from non-cumulative preference shares therefore cannot be replaced by the price of equity shares in the same company, because the share classes carry different rights and no additional consideration was established. The provision for unquoted-share transfers and the rule for unascertainable consideration do not apply where redemption consideration is ascertainable. A claim for enhanced acquisition cost following capital reduction and consolidation requires factual verification of acquisition records, share identity, legal effect and cost allocation; it cannot be raised as a pure legal ground without an existing factual record.
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