Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Common area maintenance recoveries treated as business income supported allowance of related expenditure, and proportionate disallowance by reference to house property income was rejected where the assessee was contractually responsible only for common areas of the mall. Repairs and maintenance, legal and professional fees, employee remuneration, advertisement and sales promotion, and security charges were each held to be linked to mall management and CAM obligations rather than to rental income, subject only to limited factual restriction in respect of office and general expenses. The Tribunal also upheld the appellate authority's power to entertain and direct verification of an additional property tax deduction claim arising from the record.
Common area maintenance recoveries treated as business income supported allowance of related expenditure, and proportionate disallowance by reference to house property income was rejected where the assessee was contractually responsible only for common areas of the mall. Repairs and maintenance, legal and professional fees, employee remuneration, advertisement and sales promotion, and security charges were each held to be linked to mall management and CAM obligations rather than to rental income, subject only to limited factual restriction in respect of office and general expenses. The Tribunal also upheld the appellate authority's power to entertain and direct verification of an additional property tax deduction claim arising from the record.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4807
Join Channel
TaxTMI 
