Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
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Whether the transactions constituted a benami transfer: tribunal found essential ingredients of Section 2(9)(A) satisfied because consideration for land and shares credited to the ostensible transferee originated from and was controlled by the real transferor, funds were rotated among related entities, and claimed loan repayments were non-genuine; therefore the transfers were benami and subject to statutory consequences. Compliance with EMC shareholding conditions: majority control and redistribution of shareholding were orchestrated to evade the EMC scheme limits, supporting the benami finding. Appeals dismissed. - AT
Whether the transactions constituted a benami transfer: tribunal found essential ingredients of Section 2(9)(A) satisfied because consideration for land and shares credited to the ostensible transferee originated from and was controlled by the real transferor, funds were rotated among related entities, and claimed loan repayments were non-genuine; therefore the transfers were benami and subject to statutory consequences. Compliance with EMC shareholding conditions: majority control and redistribution of shareholding were orchestrated to evade the EMC scheme limits, supporting the benami finding. Appeals dismissed. - AT
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