https://www.taxtmi.com/caselaws?id=401279 Taxability of alleged transfer under section 2(47)(v) depended on the real character of the arrangement, not the memorandum of understanding alone; the Tribunal held that the transaction had to be tested on the parties' intention, surrounding circumstances, and the nature of the payments, so the short-term capital gain addition was remanded for fresh examination. The disallowance relating to consultancy or professional charges was sustained because tax deduction at source was required on that payment, and only the Rs. 25,000 component survived under the TDS disallowance. en-us Fri, 27 Nov 2020 00:00:00 +0530 Thu, 03 Dec 2020 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401279 Taxability of alleged transfer under section 2(47)(v) depended on the real character of the arrangement, not the memorandum of understanding alone; the Tribunal held that the transaction had to be tested on the parties' intention, surrounding circumstances, and the nature of the payments, so the short-term capital gain addition was remanded for fresh examination. The disallowance relating to consultancy or professional charges was sustained because tax deduction at source was required on that payment, and only the Rs. 25,000 component survived under the TDS disallowance. Case-Laws Income Tax Fri, 27 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401279