Power to receive documentary evidence upheld; documents referred in complaint may be placed on record without amendment where omission was inadvertent...
Proof of foreign public documents requires originals or certified diplomatic/notarial copies; inspection must occur in-magna presence and cross-examin...
Capital gain computation under a joint development agreement was considered with two principal issues: whether deduction for indexed cost of acquisition of land is allowable where land rights were exchanged for constructed area, and whether deduction for cost of construction is allowable though no monetary investment was made by the assessee. The tribunal applied the rule that expenditure wholly and exclusively incurred in connection with transfer and cost of acquisition and improvement must be allowed, concluding the assessee retained compensable rights and was entitled in principle to deductions for indexed acquisition and construction costs; both issues were remitted to the AO for factual verification and quantification with admission of additional evidence.
Capital gain computation under a joint development agreement was considered with two principal issues: whether deduction for indexed cost of acquisition of land is allowable where land rights were exchanged for constructed area, and whether deduction for cost of construction is allowable though no monetary investment was made by the assessee. The tribunal applied the rule that expenditure wholly and exclusively incurred in connection with transfer and cost of acquisition and improvement must be allowed, concluding the assessee retained compensable rights and was entitled in principle to deductions for indexed acquisition and construction costs; both issues were remitted to the AO for factual verification and quantification with admission of additional evidence.
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