Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
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...
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Compensation paid under cancellation arrangements for share-sale agreements was treated as deductible expenditure in computing long-term capital gains because the transaction was found genuine and not a colourable device. The payment had a direct nexus with the eventual transfer of shares at a higher price and was accepted as expenditure incurred wholly and exclusively in connection with the transfer. The objection based on Rule 46A also failed because the material was already in the public domain and, in any event, the Commissioner (Appeals) may make further inquiry where the Assessing Officer has not done so. The disallowance was deleted.
Compensation paid under cancellation arrangements for share-sale agreements was treated as deductible expenditure in computing long-term capital gains because the transaction was found genuine and not a colourable device. The payment had a direct nexus with the eventual transfer of shares at a higher price and was accepted as expenditure incurred wholly and exclusively in connection with the transfer. The objection based on Rule 46A also failed because the material was already in the public domain and, in any event, the Commissioner (Appeals) may make further inquiry where the Assessing Officer has not done so. The disallowance was deleted.
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