Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
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Disallowance of deduction under sections 54B and 54F was examined; tribunal concluded the assessee is not entitled to either deduction and capital gain tax is payable on sale of flats, outcome: taxability established. Tribunal accepted that a registered joint venture agreement effected transfer earlier, making the share in constructed flats a capital asset and the market value at receipt (post occupancy certificate) constitutes cost of acquisition, outcome: cost to be treated from assessment year 2015-16. Tribunal allowed an additional claim before appellate authorities and restored the matter to the assessing officer to verify long term capital gain computation and determine correct tax liability.
Disallowance of deduction under sections 54B and 54F was examined; tribunal concluded the assessee is not entitled to either deduction and capital gain tax is payable on sale of flats, outcome: taxability established. Tribunal accepted that a registered joint venture agreement effected transfer earlier, making the share in constructed flats a capital asset and the market value at receipt (post occupancy certificate) constitutes cost of acquisition, outcome: cost to be treated from assessment year 2015-16. Tribunal allowed an additional claim before appellate authorities and restored the matter to the assessing officer to verify long term capital gain computation and determine correct tax liability.
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