Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Nature of land - capital gain on sale of land - exemption u/s 10(37) - assessee's agricultural land was compulsorily acquired by following entire procedure prescribed under Land Acquisition Act - character of acquisition - Revenue contested the CIT(A)'s acceptance of 1947 as the year of transfer instead of 19.05.2014 (date of final award). - The Tribunal held that the peculiar circumstances warranted consideration of the land's acquisition date as 1947 for the purpose of exemption under Section 10(37), emphasizing the continuous possession by the state and non-alteration in land's status due to delayed compensation. - The ITAT observed that the land's character and use as agricultural at the time of its original acquisition in 1947 were crucial, dismissing the relevance of its status immediately before the compensation award in 2014 for the purposes of Section 10(37).
Nature of land - capital gain on sale of land - exemption u/s 10(37) - assessee's agricultural land was compulsorily acquired by following entire procedure prescribed under Land Acquisition Act - character of acquisition - Revenue contested the CIT(A)'s acceptance of 1947 as the year of transfer instead of 19.05.2014 (date of final award). - The Tribunal held that the peculiar circumstances warranted consideration of the land's acquisition date as 1947 for the purpose of exemption under Section 10(37), emphasizing the continuous possession by the state and non-alteration in land's status due to delayed compensation. - The ITAT observed that the land's character and use as agricultural at the time of its original acquisition in 1947 were crucial, dismissing the relevance of its status immediately before the compensation award in 2014 for the purposes of Section 10(37).
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