Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Addition u/s 56(2)(vii)(b)(ii) - difference between the stamp duty value and purchase value of agricultural land (immovable property) - the agricultural land purchased in the name of the assessee is not a ‘’capital asset’’ as per provisions of Section 2(14) of the Act and it is not covered by the definition of ‘’property’’ given in Explanation to Section 56(2)(vii)(b) - Additions deleted - AT
Addition u/s 56(2)(vii)(b)(ii) - difference between the stamp duty value and purchase value of agricultural land (immovable property) - the agricultural land purchased in the name of the assessee is not a ‘’capital asset’’ as per provisions of Section 2(14) of the Act and it is not covered by the definition of ‘’property’’ given in Explanation to Section 56(2)(vii)(b) - Additions deleted - AT
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