Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Capital gain computation - determination of holding period of asset - The dispute centered around whether the holding period of a capital asset should be computed from the date of allotment of a flat or the date of the buyer's agreement - Relying on relevant judicial precedents and CBDT circulars, the tribunal concluded that the date of allotment should be considered as the date of acquisition for computing capital gains tax. As a result, it allowed the long-term capital loss as reported by the assessee.
Capital gain computation - determination of holding period of asset - The dispute centered around whether the holding period of a capital asset should be computed from the date of allotment of a flat or the date of the buyer's agreement - Relying on relevant judicial precedents and CBDT circulars, the tribunal concluded that the date of allotment should be considered as the date of acquisition for computing capital gains tax. As a result, it allowed the long-term capital loss as reported by the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
