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...
Capital gains u/s 50 arising from the sale of long-term capital assets, though deemed as short-term capital gains, should be taxed at the rates applicable to long-term capital gains u/s 112. The fiction of treating them as short-term gains is limited to Section 50 and cannot convert the nature of the asset for other purposes. Consequently, the concessional 20% tax rate u/s 112 applies. However, a dissenting view holds that Section 50 determines the chargeability, and Section 112(1) prescribes the rate, rendering the gains taxable as short-term. The conflicting interpretations aim to prevent double benefits from depreciation while adhering to legislative intent. The issue requires resolution by a regular bench for other aspects raised in cross-appeals.
Capital gains u/s 50 arising from the sale of long-term capital assets, though deemed as short-term capital gains, should be taxed at the rates applicable to long-term capital gains u/s 112. The fiction of treating them as short-term gains is limited to Section 50 and cannot convert the nature of the asset for other purposes. Consequently, the concessional 20% tax rate u/s 112 applies. However, a dissenting view holds that Section 50 determines the chargeability, and Section 112(1) prescribes the rate, rendering the gains taxable as short-term. The conflicting interpretations aim to prevent double benefits from depreciation while adhering to legislative intent. The issue requires resolution by a regular bench for other aspects raised in cross-appeals.
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