Yes, under transfer pricing mechanism , there is scope of notional interest taxation. This is held by Delhi bench F in Perot Systems TSI ( India) Ltd. vs. DCIT, ITA No. 2320 to 2322/Del/08, Delhi Bench ‘F’ order dated 30.10.2009. Facts of the case The aseessee, an India company, advanced interest free loans to its 100% foreign subsidiaries....
Can capital gains exemption u/s 54F or 54 be claimed for buying land also?
May 15, 2010 by
Yes, one can claim exemption from capital gains u/s 54 or 54F for land purchase , but only if the said land is part of land on which house is being constructed. This is the decision in ACIT vs Narendra Mohan Uniyal (2009) 34 SOT 152(Del), dt.31.08.2009. Facts of the case The assessee sold a...
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