Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
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 
