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 ...
Customs transaction value rejection requires communicated reasonable doubt, while written reassessment acceptance preserves challenges to enhanced val...
Challenge-mechanism compliance clarifications permitted, while unilateral revised resolution plans may be refused under creditors' commercial discreti...
Capital-gains holding period for a residential flat acquired under a builder's allotment letter runs from allotment rather than later registration, because the statutory test is whether the asset was held. A flat held beyond the applicable long-term period consequently qualifies for long-term capital-gains treatment, with indexation and section 54 relief available in accordance with law. For section 56(2)(vii)(b), an allotment letter containing the essential acquisition terms may constitute the relevant agreement. Where part consideration was paid through banking channels before allotment, stamp-duty value must be determined as on the agreement date, requiring valuation and recomputation on that basis.
Capital-gains holding period for a residential flat acquired under a builder's allotment letter runs from allotment rather than later registration, because the statutory test is whether the asset was held. A flat held beyond the applicable long-term period consequently qualifies for long-term capital-gains treatment, with indexation and section 54 relief available in accordance with law. For section 56(2)(vii)(b), an allotment letter containing the essential acquisition terms may constitute the relevant agreement. Where part consideration was paid through banking channels before allotment, stamp-duty value must be determined as on the agreement date, requiring valuation and recomputation on that basis.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4912 
