Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Non-compete fee received is a capital receipt not liable to tax. Surplus on cancellation of debentures issued for capital expenditure is not taxable. Premium paid on redemption of debentures is allowable expenditure. Payment for acquisition of a going concern is capital expenditure. Cost of improvement to be allowed indexation. Cost of acquisition of amalgamated business to be taken as cost to previous owner. Claim of capital loss on surrender of land to DDA not entertained as it requires verification of facts.
Non-compete fee received is a capital receipt not liable to tax. Surplus on cancellation of debentures issued for capital expenditure is not taxable. Premium paid on redemption of debentures is allowable expenditure. Payment for acquisition of a going concern is capital expenditure. Cost of improvement to be allowed indexation. Cost of acquisition of amalgamated business to be taken as cost to previous owner. Claim of capital loss on surrender of land to DDA not entertained as it requires verification of facts.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
