Money laundering property attachment and third-party encumbrance rights clarified; prior bona fide interests enforceable before confiscation, appeals ...
Profiteering in construction services for failure to pass input tax credit resulted in repayment exceeding the commensurate benefit and closure of pro...
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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