Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
Exemption under section 10(23FBA) read with section 115UB was permitted where a scheme floated under a SEBI registered Category II AIF trust held a separate PAN; the existence of SEBI registration in the trust's PAN alone does not defeat scheme level exemption, so the addition under section 10(23FBA) was deleted. Separately, the difference between book surplus and amounts distributed to investors was held to reflect statutory indexation on long term capital gains from unlisted equity and not independent business income; accordingly the Assessing Officer's taxation of that difference as business income was deleted and the ground allowing indexation was accepted.
Exemption under section 10(23FBA) read with section 115UB was permitted where a scheme floated under a SEBI registered Category II AIF trust held a separate PAN; the existence of SEBI registration in the trust's PAN alone does not defeat scheme level exemption, so the addition under section 10(23FBA) was deleted. Separately, the difference between book surplus and amounts distributed to investors was held to reflect statutory indexation on long term capital gains from unlisted equity and not independent business income; accordingly the Assessing Officer's taxation of that difference as business income was deleted and the ground allowing indexation was accepted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
