Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
LTCG OR STCG - Capital gain on sale of equity shares - period of holding of shares - There exists a clause for condition precedent to the sale which has to be fulfilled by both the vendor and the purchaser - The Appellate Tribunal's decision focused on the interpretation of the "date of transfer" of shares. The Tribunal cited several precedents, including the decision of the Delhi High Court in Bharti Gupta Ramola vs. CIT and similar Tribunal decisions, which supported the assessee's contention that the transfer date should be recognized as the date when all substantive conditions of the share transfer agreement were fulfilled. The Tribunal concluded that the shares were held for more than 12 months and therefore qualified for LTCG treatment.
LTCG OR STCG - Capital gain on sale of equity shares - period of holding of shares - There exists a clause for condition precedent to the sale which has to be fulfilled by both the vendor and the purchaser - The Appellate Tribunal's decision focused on the interpretation of the "date of transfer" of shares. The Tribunal cited several precedents, including the decision of the Delhi High Court in Bharti Gupta Ramola vs. CIT and similar Tribunal decisions, which supported the assessee's contention that the transfer date should be recognized as the date when all substantive conditions of the share transfer agreement were fulfilled. The Tribunal concluded that the shares were held for more than 12 months and therefore qualified for LTCG treatment.
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