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...
Section 37A seizure of equivalent domestic assets was upheld where foreign proceedings and control of overseas entities gave reason to believe that foreign exchange derived from those entities remained held abroad in contravention of FEMA. Confirmation of seizure operates as an interim protective measure pending adjudication, particularly where no repatriation or disclosure of the foreign exchange is shown. Applying Section 37A to foreign exchange acquired after its commencement and continuing to be held abroad does not constitute retrospective application. Foreign employment permits alone do not establish non-resident status without evidence of year-wise Indian stay or an intention to remain abroad indefinitely; an administratrix's personal residential status does not determine the Estate's alleged foreign holding.
Section 37A seizure of equivalent domestic assets was upheld where foreign proceedings and control of overseas entities gave reason to believe that foreign exchange derived from those entities remained held abroad in contravention of FEMA. Confirmation of seizure operates as an interim protective measure pending adjudication, particularly where no repatriation or disclosure of the foreign exchange is shown. Applying Section 37A to foreign exchange acquired after its commencement and continuing to be held abroad does not constitute retrospective application. Foreign employment permits alone do not establish non-resident status without evidence of year-wise Indian stay or an intention to remain abroad indefinitely; an administratrix's personal residential status does not determine the Estate's alleged foreign holding.
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TaxTMI 
TaxTMI 
of 4891 
