Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
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A development agreement did not trigger a taxable transfer under the capital gains provisions because the possession granted was only for limited development purposes and not possession in the nature contemplated by section 53A of the Transfer of Property Act. The Tribunal also found no material to show receipt of any consideration, monetary or otherwise, in the year of execution. Applying the binding High Court ruling in Smt. Shantha Vidyasagar Annam, it held that the essential conditions for transfer under section 45 were absent, so no long-term capital gains arose in the relevant year and the addition was deleted.
A development agreement did not trigger a taxable transfer under the capital gains provisions because the possession granted was only for limited development purposes and not possession in the nature contemplated by section 53A of the Transfer of Property Act. The Tribunal also found no material to show receipt of any consideration, monetary or otherwise, in the year of execution. Applying the binding High Court ruling in Smt. Shantha Vidyasagar Annam, it held that the essential conditions for transfer under section 45 were absent, so no long-term capital gains arose in the relevant year and the addition was deleted.
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