Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
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 4811 
Join Channel 
