Road restoration charges constitute taxable services when requested for commercial pipeline activity, requiring reverse-charge GST from the business r...
Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
Transfer-pricing comparability requires functional alignment; delayed associated-enterprise receivables need separate LIBOR-based benchmarking, while ...
Extended reassessment limitation in search cases requires asset-linked escaped income, invalidating additions based only on unexplained money or expen...
Enhanced tolerance band under section 43CA applies retrospectively, deleting qualifying deemed-sale additions while disputed stamp valuation requires ...
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Payment to an agreement holder to extinguish enforceable specific-performance rights arising from an agreement for sale qualifies as expenditure incurred wholly and exclusively in connection with a property transfer. Where the payment clears the holder's claim, improves the transferor's title and enables the sale, it is deductible when computing capital gains under section 48. The Tribunal treated the payment as analogous to expenditure incurred to remove existing rights that obstruct a transfer, deleted the related capital-gains addition, and allowed the appeal.
Payment to an agreement holder to extinguish enforceable specific-performance rights arising from an agreement for sale qualifies as expenditure incurred wholly and exclusively in connection with a property transfer. Where the payment clears the holder's claim, improves the transferor's title and enables the sale, it is deductible when computing capital gains under section 48. The Tribunal treated the payment as analogous to expenditure incurred to remove existing rights that obstruct a transfer, deleted the related capital-gains addition, and allowed the appeal.
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