Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Taxability as capital gain or not - Surrender / transfer of tenancy rights - Applicability of section 50C for valuation - The AO treated the transaction as a surrender of rights by the assessee and computed LTCG - The ITAT examined the terms of the tenancy agreements and found no evidence to support the conclusion that the transaction constituted a sale or transfer of ownership rights. They noted that the agreements were in accordance with the Maharashtra Rent Control Act, 1999, and there was no consideration passed between the parties. - Additions made as long term capital gains deleted.
Taxability as capital gain or not - Surrender / transfer of tenancy rights - Applicability of section 50C for valuation - The AO treated the transaction as a surrender of rights by the assessee and computed LTCG - The ITAT examined the terms of the tenancy agreements and found no evidence to support the conclusion that the transaction constituted a sale or transfer of ownership rights. They noted that the agreements were in accordance with the Maharashtra Rent Control Act, 1999, and there was no consideration passed between the parties. - Additions made as long term capital gains deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
