Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Correct head of income for premium on redemption of privately...
Premium on redemption of privately placed NCDs is interest income, not capital gains. Long-term capital loss set-off restored. No perquisite on flat purchase.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Correct head of income for premium on redemption of privately placed non-convertible debentures (NCDs) is interest income under Income from Other Sources, not capital gains, as NCDs are debt instruments and redemption amounts to realization of money advanced by creditor. Set-off of long-term capital loss against long-term capital gains restored to Assessing Officer for fresh computation. Disallowance u/s 14A relating to exempt income to be computed considering dividend yielding investments only as per precedent. No employer-employee relationship in tripartite agreement for flat purchase, hence no perquisite u/s 17(2)(iii)(a) for difference between actual cost and stamp duty value unless actual fair market value established.
Correct head of income for premium on redemption of privately placed non-convertible debentures (NCDs) is interest income under Income from Other Sources, not capital gains, as NCDs are debt instruments and redemption amounts to realization of money advanced by creditor. Set-off of long-term capital loss against long-term capital gains restored to Assessing Officer for fresh computation. Disallowance u/s 14A relating to exempt income to be computed considering dividend yielding investments only as per precedent. No employer-employee relationship in tripartite agreement for flat purchase, hence no perquisite u/s 17(2)(iii)(a) for difference between actual cost and stamp duty value unless actual fair market value established.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
