Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
Electronic Postal Bill of Export templates mandating specified data fields for postal export declarations; system-generated Let Export Order on public...
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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