Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Computation of Capital Gains - Exclusion of the portion of the sale consideration that was never received - The High court found that the real income (capital gains) should be computed based on the actual sale consideration received by the promoters, i.e., after deducting the amounts withdrawn from the escrow account for liabilities. It held that the initial computation, which included the escrow amount not received by the promoters, was incorrect. The full value of consideration for computing capital gains should reflect the actual amount received post-adjustments for liabilities.
Computation of Capital Gains - Exclusion of the portion of the sale consideration that was never received - The High court found that the real income (capital gains) should be computed based on the actual sale consideration received by the promoters, i.e., after deducting the amounts withdrawn from the escrow account for liabilities. It held that the initial computation, which included the escrow amount not received by the promoters, was incorrect. The full value of consideration for computing capital gains should reflect the actual amount received post-adjustments for liabilities.
Note: It is a system-generated summary and is for quick reference only.
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