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 ...
Voluntary revision of financial statements - Income Recognition - NPA - Section 131 of the Companies Act, 2013 - The petitioner-company fulfilled the requirements under Section 131 of the Act and Rule 77 of the 2016 Rules and accordingly, the petitioner-company is entitled for seeking revision of its financial statements or board’s report, for the financial years, in question - it is seen that the relevant interest amounts for the particular years, being treated as accrued and not paid, is added back in computation to arrive at the assessable income. Thus there is no impact on revenue from the perspective of the Income Tax Department. - Tri
Voluntary revision of financial statements - Income Recognition - NPA - Section 131 of the Companies Act, 2013 - The petitioner-company fulfilled the requirements under Section 131 of the Act and Rule 77 of the 2016 Rules and accordingly, the petitioner-company is entitled for seeking revision of its financial statements or board’s report, for the financial years, in question - it is seen that the relevant interest amounts for the particular years, being treated as accrued and not paid, is added back in computation to arrive at the assessable income. Thus there is no impact on revenue from the perspective of the Income Tax Department. - Tri
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