Computation of capital-gains has to be made as per law existing as on the 1st day of April of the relevant assessment year
If agreement to sale was entered earlier prior to introduction of section 43CA, section 56(2)(vii) or section 50C the notional tax cannot be levied.
Plain literal interpretation of statutory provision has to be avoided if results in absurd and unreasonable consequences: Supreme Court
If cash sales transaction is recorded in regular books of accounts, sales are made out of stock-in-trade then no addition U/s 68 could be sustained.
Whether capital gain exemption could be denied if the builder fails to give Possession within 3 years?
Provisions of Section 68 are not applicable on the sale transactions recorded in the books of accounts as sales are already part of the income which is already credited in P&L account.
In respect of agreement to sell for transfer of an asset has been executed before 2013, the provision of section 43CA(4) will not be applicable
Expenditure is not debited to profit and loss account – Whether disallowance u/s 40(a)(ia) for non deduction of tax at source can be made?
Can the benefit of section 43CA(3) be denied in a case where the initial amount is received by cash though subsequent amounts are received by cheque?
Validity of addition if the Agreement to sale done prior to introduction of section 43CA & Sale deed done afterwards
