Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Whether rights under a buyer/allotment agreement constitute a transfer taxable as capital gains was decided by applying the statutory definitions of capital asset and transfer, with emphasis on clauses covering part performance and transactions enabling enjoyment of immovable property. The Tribunal found the assessee held enforceable rights from allotment and that the executed agreement to sell effected a transfer within the statutory definition; consequently the receipts were assessable under capital gains. The assessee's claimed indexed cost exceeded consideration, producing an allowable long-term capital loss, and the appeal was allowed on that basis.
Whether rights under a buyer/allotment agreement constitute a transfer taxable as capital gains was decided by applying the statutory definitions of capital asset and transfer, with emphasis on clauses covering part performance and transactions enabling enjoyment of immovable property. The Tribunal found the assessee held enforceable rights from allotment and that the executed agreement to sell effected a transfer within the statutory definition; consequently the receipts were assessable under capital gains. The assessee's claimed indexed cost exceeded consideration, producing an allowable long-term capital loss, and the appeal was allowed on that basis.
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