Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
The Appellate Tribunal addressed the issue of Long-Term Capital Gains (LTCG) on the sale of agricultural land, focusing on the property's location in relation to municipal limits u/s 2(14). The Tribunal considered the distance of the land from a specific landmark as confirmed by Income-tax Department inspectors and Tehsildar. The assessee argued that the distance should be calculated based on the municipal limits in place before a certain date, emphasizing the lack of subsequent notifications expanding the limits. Consequently, the Tribunal allowed the assessee's appeal, ruling that the land in question did not qualify as a capital asset for tax purposes.
The Appellate Tribunal addressed the issue of Long-Term Capital Gains (LTCG) on the sale of agricultural land, focusing on the property's location in relation to municipal limits u/s 2(14). The Tribunal considered the distance of the land from a specific landmark as confirmed by Income-tax Department inspectors and Tehsildar. The assessee argued that the distance should be calculated based on the municipal limits in place before a certain date, emphasizing the lack of subsequent notifications expanding the limits. Consequently, the Tribunal allowed the assessee's appeal, ruling that the land in question did not qualify as a capital asset for tax purposes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
