Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
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The ITAT Indore ruled on LTCG deduction u/s 54B for agricultural lands bought in the wife and family's names, but funded entirely by the assessee. Citing SHRI LAXMI NARAYAN case, the tribunal held that Section 54B allows investments in the name of spouse and minors. Since the assessee used own funds from the sale of original asset, the deduction cannot be denied based on the lands being in family members' names. Assessee's appeal allowed.
The ITAT Indore ruled on LTCG deduction u/s 54B for agricultural lands bought in the wife and family's names, but funded entirely by the assessee. Citing SHRI LAXMI NARAYAN case, the tribunal held that Section 54B allows investments in the name of spouse and minors. Since the assessee used own funds from the sale of original asset, the deduction cannot be denied based on the lands being in family members' names. Assessee's appeal allowed.
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