Clubbing of income from gifted property failed where the claim surfaced after reassessment limitation, sustaining capital-gains assessment in spouse's...
Employee stock-option discount qualifies as revenue expenditure, while royalty and service comparables require reliable functional and transactional b...
Special insurance income computation preserves statutory deductions while limiting transfer-pricing, withholding and disallowance adjustments for gene...
Pending real-estate anti-profiteering investigations may be remanded for fresh project-level computation of input-tax-credit savings and allocation by total area where the earlier methodology is legally unsustainable. A fresh Standing Committee reference is unnecessary where the original reference remains alive and the DGAP acts under remand. The investigation-report time limit is directory, particularly where delayed records caused the delay, and notice, disclosure of the fresh report and opportunity for objections satisfy natural justice. Input-tax-credit benefit must be actually passed to homebuyers through commensurate price reduction; unpassed benefit is refundable with interest proportionate to sold area. A penalty provision does not apply where the entire contravention ended before its commencement.
Pending real-estate anti-profiteering investigations may be remanded for fresh project-level computation of input-tax-credit savings and allocation by total area where the earlier methodology is legally unsustainable. A fresh Standing Committee reference is unnecessary where the original reference remains alive and the DGAP acts under remand. The investigation-report time limit is directory, particularly where delayed records caused the delay, and notice, disclosure of the fresh report and opportunity for objections satisfy natural justice. Input-tax-credit benefit must be actually passed to homebuyers through commensurate price reduction; unpassed benefit is refundable with interest proportionate to sold area. A penalty provision does not apply where the entire contravention ended before its commencement.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4910 
