Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
Scientific research association approval requires continuing SIRO status, annual donation reporting, and donor certificates for the approved foundatio...
Scientific research institution approval is conditional on SIRO recognition, annual donation reporting, donor certification, and prescribed compliance...
Development agreement for land development does not result in transfer u/s 2(47)(v) of the Act, and no capital gain is chargeable in the year of agreement; capital gain is taxable in the year when constructed area is given to the assessee. Addition of rental income accepted as income from house property. Loan received from daughter substantiated; loan from wife accepted considering negligible amount and spousal relationship. Unexplained addition of Rs. 90,237/- considered taxable; relief of Rs. 2,75,188/- granted. Cross-objection partly allowed.
Development agreement for land development does not result in transfer u/s 2(47)(v) of the Act, and no capital gain is chargeable in the year of agreement; capital gain is taxable in the year when constructed area is given to the assessee. Addition of rental income accepted as income from house property. Loan received from daughter substantiated; loan from wife accepted considering negligible amount and spousal relationship. Unexplained addition of Rs. 90,237/- considered taxable; relief of Rs. 2,75,188/- granted. Cross-objection partly allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4897 
