Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
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.
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