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...
Compensation received by assessee from builder for non-delivery of property within stipulated time is a capital receipt not chargeable to income tax. Assessee had applied for cancellation of allotment which was accepted by builder, who calculated compensation considering 12% interest per annum. Assessee had taken housing loan for investment in property and repaid interest to bank. Compensation received for cancellation of allotment due to non-handover within time is not taxable in assessee's hands.
Compensation received by assessee from builder for non-delivery of property within stipulated time is a capital receipt not chargeable to income tax. Assessee had applied for cancellation of allotment which was accepted by builder, who calculated compensation considering 12% interest per annum. Assessee had taken housing loan for investment in property and repaid interest to bank. Compensation received for cancellation of allotment due to non-handover within time is not taxable in assessee's hands.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
