Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Land executed under a development agreement-cum-power of attorney was held assessable in the individual owners' hands because legal title vested in them and the documents were executed by them personally, while the asserted partition was treated only as an internal family arrangement and not proof of HUF ownership. The Tribunal further held that the agreement granted the developer only a limited licence to enter for construction, not effective transfer of possession for capital gains purposes, and no non-refundable consideration had been received. As the essential conditions for transfer were not satisfied in the relevant year, the capital gains addition was deleted.
Land executed under a development agreement-cum-power of attorney was held assessable in the individual owners' hands because legal title vested in them and the documents were executed by them personally, while the asserted partition was treated only as an internal family arrangement and not proof of HUF ownership. The Tribunal further held that the agreement granted the developer only a limited licence to enter for construction, not effective transfer of possession for capital gains purposes, and no non-refundable consideration had been received. As the essential conditions for transfer were not satisfied in the relevant year, the capital gains addition was deleted.
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