Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
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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