Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Exemption under section 54 was upheld where the assessee had substantially paid the vendor and taken possession under an unregistered agreement, bringing the transaction within part performance under section 53A of the Transfer of Property Act. The Tribunal accepted that registration was not ative on these facts and noted that the same transaction had been accepted in the vendor's assessment. It also found no defect in title material already on record and rejected the Revenue's Rule 46A objection because the conveyance deed had been before the Assessing Officer. The appellate order granting exemption was sustained and the Revenue's appeal was dismissed.
Exemption under section 54 was upheld where the assessee had substantially paid the vendor and taken possession under an unregistered agreement, bringing the transaction within part performance under section 53A of the Transfer of Property Act. The Tribunal accepted that registration was not ative on these facts and noted that the same transaction had been accepted in the vendor's assessment. It also found no defect in title material already on record and rejected the Revenue's Rule 46A objection because the conveyance deed had been before the Assessing Officer. The appellate order granting exemption was sustained and the Revenue's appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
