https://www.taxtmi.com/caselaws?id=435278 In income-tax analysis, bad debt deduction was rejected because the assessee did not prove the identity of the parties, the transaction details, business nexus, or compliance with the statutory conditions for write-off. Professional and consultancy charges were tested under section 37(1) on the requirement of exclusive business purpose and real nexus; the evidence was insufficient, but the matter was remitted for fresh verification rather than finally rejected. Capital gains were held not taxable on execution of the joint development agreement because no transfer in part performance arose under section 2(47)(v) read with section 53A of the Transfer of Property Act, as ownership was not conveyed and conditions for conveyance were to be completed later. en-us Mon, 13 Mar 2023 00:00:00 +0530 Thu, 16 Mar 2023 08:39:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435278 In income-tax analysis, bad debt deduction was rejected because the assessee did not prove the identity of the parties, the transaction details, business nexus, or compliance with the statutory conditions for write-off. Professional and consultancy charges were tested under section 37(1) on the requirement of exclusive business purpose and real nexus; the evidence was insufficient, but the matter was remitted for fresh verification rather than finally rejected. Capital gains were held not taxable on execution of the joint development agreement because no transfer in part performance arose under section 2(47)(v) read with section 53A of the Transfer of Property Act, as ownership was not conveyed and conditions for conveyance were to be completed later. Case-Laws Income Tax Mon, 13 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435278