Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
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Correct head of income - compensation received for vacating the flat - While the assessee argued for capital gain treatment, the Revenue contended it should be classified as income from other sources. However, the ITAT ruled that the compensation constituted a capital receipt in the hands of the assessee, as it was received from the company out of its own income. The ITAT concluded that the amount was neither capital gain nor income from other sources but rather an application of income by the company. Therefore, the addition made by the assessing officer was deleted, and the appeal of the assessee was allowed.
Correct head of income - compensation received for vacating the flat - While the assessee argued for capital gain treatment, the Revenue contended it should be classified as income from other sources. However, the ITAT ruled that the compensation constituted a capital receipt in the hands of the assessee, as it was received from the company out of its own income. The ITAT concluded that the amount was neither capital gain nor income from other sources but rather an application of income by the company. Therefore, the addition made by the assessing officer was deleted, and the appeal of the assessee was allowed.
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