https://www.taxtmi.com/highlights?id=79735 Correct head of income for premium on redemption of privately placed non-convertible debentures (NCDs) is interest income under Income from Other Sources, not capital gains, as NCDs are debt instruments and redemption amounts to realization of money advanced by creditor. Set-off of long-term capital loss against long-term capital gains restored to Assessing Officer for fresh computation. Disallowance u/s 14A relating to exempt income to be computed considering dividend yielding investments only as per precedent. No employer-employee relationship in tripartite agreement for flat purchase, hence no perquisite u/s 17(2)(iii)(a) for difference between actual cost and stamp duty value unless actual fair market value established. en-us Fri, 26 Jul 2024 09:07:28 +0530 Fri, 26 Jul 2024 09:07:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79735 Correct head of income for premium on redemption of privately placed non-convertible debentures (NCDs) is interest income under Income from Other Sources, not capital gains, as NCDs are debt instruments and redemption amounts to realization of money advanced by creditor. Set-off of long-term capital loss against long-term capital gains restored to Assessing Officer for fresh computation. Disallowance u/s 14A relating to exempt income to be computed considering dividend yielding investments only as per precedent. No employer-employee relationship in tripartite agreement for flat purchase, hence no perquisite u/s 17(2)(iii)(a) for difference between actual cost and stamp duty value unless actual fair market value established. Highlights Income Tax Fri, 26 Jul 2024 09:07:28 +0530 https://www.taxtmi.com/highlights?id=79735