Working capital adjustment, comparable selection and trade receivables interest were revisited in transfer pricing, with key additions deleted and rem...
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The Appellate Tribunal addressed the issue of the retrospective or prospective application of amended provisions of Section 50C regarding Capital Gain computation. Citing a case precedent, it was held that the proviso to Section 50C(1) should be considered retrospective from its inception. Consequently, the amendment to Section 50C applies retrospectively, requiring the recomputation of capital gains based on stamp duty value at the agreement date. The decision favored the taxpayer, rejecting the revenue's stance.
The Appellate Tribunal addressed the issue of the retrospective or prospective application of amended provisions of Section 50C regarding Capital Gain computation. Citing a case precedent, it was held that the proviso to Section 50C(1) should be considered retrospective from its inception. Consequently, the amendment to Section 50C applies retrospectively, requiring the recomputation of capital gains based on stamp duty value at the agreement date. The decision favored the taxpayer, rejecting the revenue's stance.
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