Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
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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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