International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Demutualisation share transfers are to be taxed as long-term capital gains when the holding period and cost are determined by reference to pre-demutualisation membership; the statutory demutualisation cost rule requires adopting the original membership acquisition cost or its written down value as cost of acquisition, notwithstanding prior depreciation claimed on the membership card. The assessing officer's reliance on general short-term provisions is displaced by the specific demutualisation mechanism and binding precedent, leading to acceptance of original membership cost and long-term treatment of the gain.
Demutualisation share transfers are to be taxed as long-term capital gains when the holding period and cost are determined by reference to pre-demutualisation membership; the statutory demutualisation cost rule requires adopting the original membership acquisition cost or its written down value as cost of acquisition, notwithstanding prior depreciation claimed on the membership card. The assessing officer's reliance on general short-term provisions is displaced by the specific demutualisation mechanism and binding precedent, leading to acceptance of original membership cost and long-term treatment of the gain.
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