Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
Determination of fair market value of leasehold land as on 01.04.1981 for computing long-term capital gains. The Tribunal, considering the valuation report, valued the leasehold rights at Rs. 800/- per square yard instead of Rs. 1,200/- considered by the valuer. The High Court held that the Tribunal erred in estimating the value at Rs. 800/- per square yard, as the registered valuer had already deducted the capitalized value of lease rent from the total fair market value to arrive at Rs. 57,75,000/- as the valuation after considering the leasehold rights. The Court ruled that Section 55(2)(a)(ii) would not apply, and the cost of acquisition should be determined u/s 48 as on 01.04.1981, considering the leasehold rights. The decision went against the revenue authorities.
Determination of fair market value of leasehold land as on 01.04.1981 for computing long-term capital gains. The Tribunal, considering the valuation report, valued the leasehold rights at Rs. 800/- per square yard instead of Rs. 1,200/- considered by the valuer. The High Court held that the Tribunal erred in estimating the value at Rs. 800/- per square yard, as the registered valuer had already deducted the capitalized value of lease rent from the total fair market value to arrive at Rs. 57,75,000/- as the valuation after considering the leasehold rights. The Court ruled that Section 55(2)(a)(ii) would not apply, and the cost of acquisition should be determined u/s 48 as on 01.04.1981, considering the leasehold rights. The decision went against the revenue authorities.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
