Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Deduction for capital gain on agricultural land was upheld where inspectors' post-transfer report and photographs were temporally remote, unnotified, and not authenticated, so they could not rebut revenue records showing the land was used for agriculture as on transfer. The tribunal found the revenue failed to discharge the onus of proving the land's non agricultural character, noted that meagre agricultural income does not change land character, and confirmed the appellate authority's allowance of the deduction under the relevant tax provision.
Deduction for capital gain on agricultural land was upheld where inspectors' post-transfer report and photographs were temporally remote, unnotified, and not authenticated, so they could not rebut revenue records showing the land was used for agriculture as on transfer. The tribunal found the revenue failed to discharge the onus of proving the land's non agricultural character, noted that meagre agricultural income does not change land character, and confirmed the appellate authority's allowance of the deduction under the relevant tax provision.
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