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 ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
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
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