Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
An unregistered joint development arrangement did not constitute a transfer under section 2(47)(v) because it had no legal efficacy for section 53-A, following Balbir Singh Maini. Section 2(47)(vi) also did not apply, as the transaction had not enabled enjoyment of the property as a purported owner and there was no movement of consideration or transfer, symbolically or constructively, before the relevant year-end. Applying B.C. Srinivasa Setty, the Court held that the charging and computation provisions operate as an integrated code, and where no real profit or gain had arisen, sections 45 and 48 could not be invoked. No taxable transfer or accrued capital gain arose for the year.
An unregistered joint development arrangement did not constitute a transfer under section 2(47)(v) because it had no legal efficacy for section 53-A, following Balbir Singh Maini. Section 2(47)(vi) also did not apply, as the transaction had not enabled enjoyment of the property as a purported owner and there was no movement of consideration or transfer, symbolically or constructively, before the relevant year-end. Applying B.C. Srinivasa Setty, the Court held that the charging and computation provisions operate as an integrated code, and where no real profit or gain had arisen, sections 45 and 48 could not be invoked. No taxable transfer or accrued capital gain arose for the year.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
