Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained ...
Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
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Delayed conveyance of land and building to a housing society, where the promoter had a pre-existing statutory and contractual duty to convey, does not constitute a fresh receipt of immovable property for inadequate consideration merely because registration occurred later. The conveyance perfected legal title and transferred remaining reversionary and leasehold interests in property already possessed and beneficially enjoyed by the society and its members. Intervening disputes explaining delayed registration did not alter the bona fide antecedent arrangement. Consequently, the difference between stamp duty value and settlement consideration was not taxable under section 56(2)(x), and the related addition was deleted.
Delayed conveyance of land and building to a housing society, where the promoter had a pre-existing statutory and contractual duty to convey, does not constitute a fresh receipt of immovable property for inadequate consideration merely because registration occurred later. The conveyance perfected legal title and transferred remaining reversionary and leasehold interests in property already possessed and beneficially enjoyed by the society and its members. Intervening disputes explaining delayed registration did not alter the bona fide antecedent arrangement. Consequently, the difference between stamp duty value and settlement consideration was not taxable under section 56(2)(x), and the related addition was deleted.
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