Transition support services from corporate spinoff for India business segment - TP adjustment deleted; comparables reassessed; goodwill depreciation, ...
Qualification of fire extinguishers as aircraft parts - original duty finding under Notification No.50/2017-Sr.545 vacated; remanded for fresh adjudic...
Cash received over and above the registered sale consideration on transfer of jointly owned immovable properties was treated as additional sale consideration, not unexplained money. Section 69A applies only where a person is found to be owner of unrecorded money and cannot satisfactorily explain its nature and source; here, the Assessing Officer had accepted the receipt as on-money from the buyers. Because the source was identified as part of the sale transaction, the amount could not be taxed as unexplained money merely because it was received in cash and omitted from the sale deed. The capital gains computation had to be recomputed in each co-owner's hands according to their share.
Cash received over and above the registered sale consideration on transfer of jointly owned immovable properties was treated as additional sale consideration, not unexplained money. Section 69A applies only where a person is found to be owner of unrecorded money and cannot satisfactorily explain its nature and source; here, the Assessing Officer had accepted the receipt as on-money from the buyers. Because the source was identified as part of the sale transaction, the amount could not be taxed as unexplained money merely because it was received in cash and omitted from the sale deed. The capital gains computation had to be recomputed in each co-owner's hands according to their share.
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