Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
ITAT adjudicated a dispute regarding capital gains taxation, specifically addressing the set-off of non-grandfathered short-term and long-term capital losses against grandfathered long-term capital gains under the India-Mauritius Double Taxation Avoidance Agreement. The tribunal ruled that long-term capital gains from grandfathered transactions under Article 13(4) cannot be adjusted against the assessee's capital losses. The Appellate Tribunal directed the Assessing Officer to grant full exemption for the grandfathered long-term capital gains and permit carry-forward of capital losses to subsequent years in accordance with statutory provisions, ultimately allowing the assessee's appeal.
ITAT adjudicated a dispute regarding capital gains taxation, specifically addressing the set-off of non-grandfathered short-term and long-term capital losses against grandfathered long-term capital gains under the India-Mauritius Double Taxation Avoidance Agreement. The tribunal ruled that long-term capital gains from grandfathered transactions under Article 13(4) cannot be adjusted against the assessee's capital losses. The Appellate Tribunal directed the Assessing Officer to grant full exemption for the grandfathered long-term capital gains and permit carry-forward of capital losses to subsequent years in accordance with statutory provisions, ultimately allowing the assessee's appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
