Capital Asset Conversion Requires Proven Business Stock Treatment; Paper Consideration in Spousal Flat Transfers Does Not Create Taxable Business Inco...
Human-probability test defeats political donation deduction where banking records mask accommodation-entry fund layering and evidence shows non-genuin...
Commercial property status protects capital-gains exemption when residential-house ownership limits are tested, while agricultural-land character gove...
Investigation deposits refunded after failed customs demands fall outside the statutory appellate pre-deposit interest regime and may attract compensa...
Resolution plan finality extinguishes unquantified operational-creditor claims and pending proceedings unless the approved plan expressly preserves th...
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Buy-back of a company's own shares followed by mandatory extinguishment does not entail receipt of "property" for section 56(2)(x), because the shares cannot be held, enjoyed or transferred by the company as an asset. Interest-free advances do not justify interest disallowance under section 36(1)(iii) where interest-free own funds exceed those advances and no specific borrowing is traceable to them; proportionate disallowance from a mixed pool of funds is unwarranted. Principal loans and inter-corporate deposits written off in an organised money-lending business qualify as bad debts where actual write-off occurs. A lending licence, tax-audit description and the proportion of interest income are not determinative of that business character.
Buy-back of a company's own shares followed by mandatory extinguishment does not entail receipt of "property" for section 56(2)(x), because the shares cannot be held, enjoyed or transferred by the company as an asset. Interest-free advances do not justify interest disallowance under section 36(1)(iii) where interest-free own funds exceed those advances and no specific borrowing is traceable to them; proportionate disallowance from a mixed pool of funds is unwarranted. Principal loans and inter-corporate deposits written off in an organised money-lending business qualify as bad debts where actual write-off occurs. A lending licence, tax-audit description and the proportion of interest income are not determinative of that business character.
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