Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
ITAT held that the assessee's property transaction did not constitute a short-term capital gain. The tribunal found no evidence of actual property transfer or possession, and the total consideration paid (Rs. 5,00,20,000) exceeded the market valuation (Rs. 4,74,00,000). The unregistered agreement was not considered a valid sale deed. The appellate tribunal set aside the lower authorities' order, directing the AO to delete additions under section 56(vii)(b), effectively allowing the assessee's appeal and rejecting revenue's claims of undervaluation.
ITAT held that the assessee's property transaction did not constitute a short-term capital gain. The tribunal found no evidence of actual property transfer or possession, and the total consideration paid (Rs. 5,00,20,000) exceeded the market valuation (Rs. 4,74,00,000). The unregistered agreement was not considered a valid sale deed. The appellate tribunal set aside the lower authorities' order, directing the AO to delete additions under section 56(vii)(b), effectively allowing the assessee's appeal and rejecting revenue's claims of undervaluation.
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