Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Compensation received from a builder under the RERA framework for surrender or termination of booked-property rights was held to arise from extinguishment of rights in a capital asset. The Tribunal treated the receipt as statutory compensation linked to rights acquired earlier and paid for over time, and applied section 2(47)(ii) to regard the extinguishment as a transfer. It therefore rejected assessment under section 56 as income from other sources and accepted the assessee's treatment of the amount as long-term capital gains.
Compensation received from a builder under the RERA framework for surrender or termination of booked-property rights was held to arise from extinguishment of rights in a capital asset. The Tribunal treated the receipt as statutory compensation linked to rights acquired earlier and paid for over time, and applied section 2(47)(ii) to regard the extinguishment as a transfer. It therefore rejected assessment under section 56 as income from other sources and accepted the assessee's treatment of the amount as long-term capital gains.
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