Separate speaking orders on reopening objections are mandatory; deciding them within reassessment invalidates jurisdiction and precludes revival of st...
Compulsorily convertible debentures remain debt before conversion, preventing transfer-pricing and interest-deduction disallowances on the stated fact...
Stock-in-trade transfer taxability follows possession and consideration, not later conveyance registration, limiting deemed-value provisions to the ac...
Reciprocal transfers of developed plots under a pre-existing arrangement for consolidating fragmented ownership may constitute valid consideration in kind, notwithstanding deeds showing nil monetary consideration. Section 43CA applies only where consideration received or accrued is below stamp duty value. Where each transfer was matched by equivalent land transferred to the transferor's nominees and no shortfall against stamp duty value was found, the deeming fiction did not apply. The section 43CA addition was deleted because the conveyances represented reciprocal exchanges rather than understated consideration.
Reciprocal transfers of developed plots under a pre-existing arrangement for consolidating fragmented ownership may constitute valid consideration in kind, notwithstanding deeds showing nil monetary consideration. Section 43CA applies only where consideration received or accrued is below stamp duty value. Where each transfer was matched by equivalent land transferred to the transferor's nominees and no shortfall against stamp duty value was found, the deeming fiction did not apply. The section 43CA addition was deleted because the conveyances represented reciprocal exchanges rather than understated consideration.
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