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...
Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
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The assessee was granted the benefit of cost inflation index for computing long-term capital gains on sale of shares of a foreign company. The Tribunal held that the second proviso to Section 48 does not distinguish between assets held in India and foreign countries for allowing indexation benefit. Accordingly, the Assessing Officer was not justified in denying indexation benefit to the assessee. The CIT(A)'s order was affirmed and the Revenue's appeal was dismissed.
The assessee was granted the benefit of cost inflation index for computing long-term capital gains on sale of shares of a foreign company. The Tribunal held that the second proviso to Section 48 does not distinguish between assets held in India and foreign countries for allowing indexation benefit. Accordingly, the Assessing Officer was not justified in denying indexation benefit to the assessee. The CIT(A)'s order was affirmed and the Revenue's appeal was dismissed.
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