IBC resolution plan immunity from money-laundering: corporate debtor removed as accused; cases continue against ex-directors, attached assets refunded...
Page of 4824
Press 'Enter' after typing page number.
7541 to 7560 of 96463 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The ITAT held that no taxable "transfer" arose under section 2(47)(v) of the Income-tax Act for the impugned year in respect of the assessee, a non-resident, who had entered into a Property Development Agreement and Supplementary Agreement with a developer. Relying on the SC ruling in Balbir Singh Maini, the Tribunal held that, as neither agreement was registered, section 53A of the Transfer of Property Act was not attracted, rendering section 2(47)(v) inapplicable. Consequently, the capital receipts, though partly received in FY 2017-18 and the balance in FY 2018-19, could not be assessed as capital gains in the relevant year. The assessment order was set aside and the assessee's appeal allowed.
The ITAT held that no taxable "transfer" arose under section 2(47)(v) of the Income-tax Act for the impugned year in respect of the assessee, a non-resident, who had entered into a Property Development Agreement and Supplementary Agreement with a developer. Relying on the SC ruling in Balbir Singh Maini, the Tribunal held that, as neither agreement was registered, section 53A of the Transfer of Property Act was not attracted, rendering section 2(47)(v) inapplicable. Consequently, the capital receipts, though partly received in FY 2017-18 and the balance in FY 2018-19, could not be assessed as capital gains in the relevant year. The assessment order was set aside and the assessee's appeal allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
