Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
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Transportation expenditure incurred before contract work was handed to a sub-contractor remained deductible where a memorandum recorded the parties' prior understanding that the assessee would bear that cost. The later execution of the definitive sub-contract did not displace that arrangement, and no duplicate claim by the sub-contractor was alleged; the disallowance was therefore deleted. Labour cess and copy charges deducted from the assessee's contract bills under tender terms were also deductible because the assessee incurred and bore them, their genuineness was undisputed, and the sub-contractor had not claimed them. The related disallowance of sublet expenses was deleted.
Transportation expenditure incurred before contract work was handed to a sub-contractor remained deductible where a memorandum recorded the parties' prior understanding that the assessee would bear that cost. The later execution of the definitive sub-contract did not displace that arrangement, and no duplicate claim by the sub-contractor was alleged; the disallowance was therefore deleted. Labour cess and copy charges deducted from the assessee's contract bills under tender terms were also deductible because the assessee incurred and bore them, their genuineness was undisputed, and the sub-contractor had not claimed them. The related disallowance of sublet expenses was deleted.
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