Business support recruitment and training receipts qualify for presumptive business taxation, not professional taxation under technical consultancy ru...
Treaty exemption for foreign permanent-establishment management fees prevailed, while dividend expense disallowance remained limited to an accepted al...
Centralised assessment transfers: participation after requesting centralisation can bar technical jurisdictional challenges, while assessment disputes...
Binding precedent remains operative despite pending challenge, supporting deletion of interest disallowance when debt is converted into preference sha...
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 4913 
