SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Assessment of capital gain - transfer u/s. 2(47)(vi) r/w s. 2(47)(i) - JV agreement for construction of building/s - Construction nearing completion but delay in payment of consideration - If the assessee hasn't initiated any legal process for cost recovery from the developer, a shortfall in consideration will result in incurring cost to a proportionate extent. If construction is incomplete, the value of consideration must be scaled down accordingly. The details must be clarified by the assessee and examined by the Revenue authorities. The actual cost incurred may not be in the same proportion due to delay, but this is irrelevant for computing capital gain. Any supporting material will be examined and adjudicated upon. - AT
Assessment of capital gain - transfer u/s. 2(47)(vi) r/w s. 2(47)(i) - JV agreement for construction of building/s - Construction nearing completion but delay in payment of consideration - If the assessee hasn't initiated any legal process for cost recovery from the developer, a shortfall in consideration will result in incurring cost to a proportionate extent. If construction is incomplete, the value of consideration must be scaled down accordingly. The details must be clarified by the assessee and examined by the Revenue authorities. The actual cost incurred may not be in the same proportion due to delay, but this is irrelevant for computing capital gain. Any supporting material will be examined and adjudicated upon. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
