ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
The Central Government notified that a development authority constituted under the Uttar Pradesh Urban Planning and Development Act qualifies under section 10(46A) of the Income-tax Act, 1961, exempting specified income of the authority effective from assessment year 2024-25, subject to its continued status under that Act and carrying one or more purposes listed in sub-clause (a) of clause (46A). The notification is given retrospective effect and an explanatory memorandum states no person is adversely affected.
The Central Government notified that a development authority constituted under the Uttar Pradesh Urban Planning and Development Act qualifies under section 10(46A) of the Income-tax Act, 1961, exempting specified income of the authority effective from assessment year 2024-25, subject to its continued status under that Act and carrying one or more purposes listed in sub-clause (a) of clause (46A). The notification is given retrospective effect and an explanatory memorandum states no person is adversely affected.
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