Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Capital gain arising on transfer of land - STCG arising out of the transfer of non-agricultural land - real owner - The appellant asserts that the land was purchased on behalf of the company, as evidenced by a development agreement executed between the appellant and the company. However, the Tribunal finds no explicit indication in the documents that the appellant was authorized by the company to purchase the land on its behalf. The absence of a memorandum of understanding or any explicit authorization leads the Tribunal to conclude that the land was purchased by the appellant individually, not on behalf of the company.
Capital gain arising on transfer of land - STCG arising out of the transfer of non-agricultural land - real owner - The appellant asserts that the land was purchased on behalf of the company, as evidenced by a development agreement executed between the appellant and the company. However, the Tribunal finds no explicit indication in the documents that the appellant was authorized by the company to purchase the land on its behalf. The absence of a memorandum of understanding or any explicit authorization leads the Tribunal to conclude that the land was purchased by the appellant individually, not on behalf of the company.
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