Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Agreement for sale creating an enforceable right and accompanied by substantial advance consideration and irrevocable commitment was held to constitute a transfer under the statutory definition, because it created a right in personam enabling specific performance; consequently the earlier purchase within one year prior to that date qualified for the capital gains exemption on acquisition. The legal test applied emphasised creation of enforceable rights and transfer of possession or rights to enforce the agreement as determinative of the date of transfer and entitlement to exemption.
Agreement for sale creating an enforceable right and accompanied by substantial advance consideration and irrevocable commitment was held to constitute a transfer under the statutory definition, because it created a right in personam enabling specific performance; consequently the earlier purchase within one year prior to that date qualified for the capital gains exemption on acquisition. The legal test applied emphasised creation of enforceable rights and transfer of possession or rights to enforce the agreement as determinative of the date of transfer and entitlement to exemption.
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