Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Characterization of receipt - amount received by the appellant upon retirement from the partnership - taxability as capital gains under the Income Tax or not? - The High Court agrees with the appellant's argument that the amount received by her upon retirement, being the balance of her capital account in the firm, does not qualify as a transfer for the purpose of capital gains taxation. It concurs with the principle that the adjustment of rights of partners in a dissolved firm, through the distribution of assets, does not amount to a transfer. - Regarding the receipt of the share value of goodwill, the High Court holds that in the absence of a clear transfer of goodwill to the firm by the appellant, such receipt cannot be taxed as capital gains.
Characterization of receipt - amount received by the appellant upon retirement from the partnership - taxability as capital gains under the Income Tax or not? - The High Court agrees with the appellant's argument that the amount received by her upon retirement, being the balance of her capital account in the firm, does not qualify as a transfer for the purpose of capital gains taxation. It concurs with the principle that the adjustment of rights of partners in a dissolved firm, through the distribution of assets, does not amount to a transfer. - Regarding the receipt of the share value of goodwill, the High Court holds that in the absence of a clear transfer of goodwill to the firm by the appellant, such receipt cannot be taxed as capital gains.
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