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Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
Property received pursuant to a family settlement was held not to constitute a 'transfer' under the definition of transfer and therefore not taxable as deemed income under the provision addressing property received without consideration. The tribunal accepted that the gift deed merely formalised title vesting between members who constituted an HUF, facts which the AO did not contest and which the CIT(A) found established. Consequence: the gift was treated as the formal execution of a family settlement, exempting it from being treated as taxable deemed income.
Property received pursuant to a family settlement was held not to constitute a 'transfer' under the definition of transfer and therefore not taxable as deemed income under the provision addressing property received without consideration. The tribunal accepted that the gift deed merely formalised title vesting between members who constituted an HUF, facts which the AO did not contest and which the CIT(A) found established. Consequence: the gift was treated as the formal execution of a family settlement, exempting it from being treated as taxable deemed income.
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