Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The Appellate Tribunal held that for determining the holding period of a property or calculating long-term capital gains, the date of allotment of the property is paramount. Subsequent acts like payment of installments, delivery of possession, and execution of sale deed originate from the allotment letter and are consequential. Therefore, the stamp duty value on the date of allotment should be considered u/s 56(2)(x) for assessing the difference between the stamp duty value and sale consideration. The difference between the stamp duty value as on 22.12.2014 (Rs. 1,88,00,000/-) and the sale consideration (Rs. 1,75,00,000/-) is to be assessed as income from other sources in the hands of the assessee, limited to their 1/3rd share (Rs. 13,00,000/-). Applying the principle of consistency, the assessee's case is allowed on the same grounds as their daughter's case decided earlier. The Assessing Officer is directed to modify the addition accordingly.
The Appellate Tribunal held that for determining the holding period of a property or calculating long-term capital gains, the date of allotment of the property is paramount. Subsequent acts like payment of installments, delivery of possession, and execution of sale deed originate from the allotment letter and are consequential. Therefore, the stamp duty value on the date of allotment should be considered u/s 56(2)(x) for assessing the difference between the stamp duty value and sale consideration. The difference between the stamp duty value as on 22.12.2014 (Rs. 1,88,00,000/-) and the sale consideration (Rs. 1,75,00,000/-) is to be assessed as income from other sources in the hands of the assessee, limited to their 1/3rd share (Rs. 13,00,000/-). Applying the principle of consistency, the assessee's case is allowed on the same grounds as their daughter's case decided earlier. The Assessing Officer is directed to modify the addition accordingly.
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