Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Where a civil court had already declared the registered sale deed void for fraud and non-payment of consideration, no capital gain could be attributed to the assessee merely because the Revenue's appeal against that decree was pending. The ITAT noted that the Assessing Officer made no inquiry with the purchasers about payment of consideration or the source of investment, and no material showed that any sale proceeds were actually received by the assessee. On these facts, a valid transfer and receipt of consideration were absent, so no long-term capital gain arose even on a protective basis. The protective addition was deleted.
Where a civil court had already declared the registered sale deed void for fraud and non-payment of consideration, no capital gain could be attributed to the assessee merely because the Revenue's appeal against that decree was pending. The ITAT noted that the Assessing Officer made no inquiry with the purchasers about payment of consideration or the source of investment, and no material showed that any sale proceeds were actually received by the assessee. On these facts, a valid transfer and receipt of consideration were absent, so no long-term capital gain arose even on a protective basis. The protective addition was deleted.
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