Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
