Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
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ITAT adjudicated a multi-issue tax dispute involving conversion of stock-in-trade into capital assets, commission payments, and share transfer transactions. The tribunal held that conversion of stock-in-trade into capital assets is permissible without tax implications, particularly before 2018 legislative amendments. Commission payments made through banking channels with appropriate TDS were validated. Regarding share transactions, ITAT rejected revenue's challenge to short-term capital loss, finding the share purchases through stock exchange as genuine, notwithstanding SEBI inquiries. The tribunal ultimately allowed the assessee's appeal, granting long-term capital gains treatment with indexation benefit and accepting commission and share transaction claims.
ITAT adjudicated a multi-issue tax dispute involving conversion of stock-in-trade into capital assets, commission payments, and share transfer transactions. The tribunal held that conversion of stock-in-trade into capital assets is permissible without tax implications, particularly before 2018 legislative amendments. Commission payments made through banking channels with appropriate TDS were validated. Regarding share transactions, ITAT rejected revenue's challenge to short-term capital loss, finding the share purchases through stock exchange as genuine, notwithstanding SEBI inquiries. The tribunal ultimately allowed the assessee's appeal, granting long-term capital gains treatment with indexation benefit and accepting commission and share transaction claims.
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