Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Each capital gains transaction was treated as a separate source of income, so section 90(2) allowed the assessee to apply the India-Singapore DTAA to one transaction and the Act to another where more beneficial. The Tribunal rejected compulsory aggregation of all capital gains and losses under the head of capital gains, holding that source-wise treaty choice cannot be overridden by a uniform application of the Act. Gains from shares acquired before 01.04.2017 and covered by Article 13(4A) of the treaty were outside taxable income in India and could not be brought into the Act's computation for set-off purposes. The addition was deleted.
Each capital gains transaction was treated as a separate source of income, so section 90(2) allowed the assessee to apply the India-Singapore DTAA to one transaction and the Act to another where more beneficial. The Tribunal rejected compulsory aggregation of all capital gains and losses under the head of capital gains, holding that source-wise treaty choice cannot be overridden by a uniform application of the Act. Gains from shares acquired before 01.04.2017 and covered by Article 13(4A) of the treaty were outside taxable income in India and could not be brought into the Act's computation for set-off purposes. The addition was deleted.
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