Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
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Chargeability of capital gains on sale of land - nature of land sold - agricultural land - The development authority i. e. GUDA is a creation of statute. It cannot be equated with Municipal Corporation - As assessee has successfully demonstrated that the land parcels situated as Adalaj does not fall within the meaning of expression ‘Municipality’ or ‘Municipal Corporation’ and therefore falls in exception provided in sub-clause (a) to Section 2(14)(iii) of the Act - AT
Chargeability of capital gains on sale of land - nature of land sold - agricultural land - The development authority i. e. GUDA is a creation of statute. It cannot be equated with Municipal Corporation - As assessee has successfully demonstrated that the land parcels situated as Adalaj does not fall within the meaning of expression ‘Municipality’ or ‘Municipal Corporation’ and therefore falls in exception provided in sub-clause (a) to Section 2(14)(iii) of the Act - AT
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