Investigation deposits refunded after failed customs demands fall outside the statutory appellate pre-deposit interest regime and may attract compensa...
Resolution plan finality extinguishes unquantified operational-creditor claims and pending proceedings unless the approved plan expressly preserves th...
Stakeholder-list modification permits liquidators to update entries on new information, subject to notifying the Adjudicating Authority within prescri...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4913 
