Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
CIT(A) determined profit at 5.47% on total purchases. Assessee produced sufficient evidence regarding purchases, movement of goods, GST payment on transportation, expenses accounted for. No evidence of routing back payments. CIT(A) endorsed assessee's contentions but erred in directing gross profit rate application, defying logic. Assessee discharged onus, furnished abundant evidence substantiating purchases' genuineness. CIT(A) erred in sustaining gross profit addition on alleged purchases over declared profit. Gross profit determined by CIT(A) directed to be deleted. Addition u/s 56(2)(x) for difference between purchase price and stamp duty value of property purchased, without referring valuation to DVO, is unsustainable and liable to be deleted. AO bound to refer valuation to DVO when assessee disputes stamp duty value. Addition by AO and confirmation by CIT(A), without DVO reference, unsustainable and deleted in assessee's favor.
CIT(A) determined profit at 5.47% on total purchases. Assessee produced sufficient evidence regarding purchases, movement of goods, GST payment on transportation, expenses accounted for. No evidence of routing back payments. CIT(A) endorsed assessee's contentions but erred in directing gross profit rate application, defying logic. Assessee discharged onus, furnished abundant evidence substantiating purchases' genuineness. CIT(A) erred in sustaining gross profit addition on alleged purchases over declared profit. Gross profit determined by CIT(A) directed to be deleted. Addition u/s 56(2)(x) for difference between purchase price and stamp duty value of property purchased, without referring valuation to DVO, is unsustainable and liable to be deleted. AO bound to refer valuation to DVO when assessee disputes stamp duty value. Addition by AO and confirmation by CIT(A), without DVO reference, unsustainable and deleted in assessee's favor.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
