SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
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 4879 
