Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
