Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
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Section 54 relief was available where the assessee invested capital gains in an under-construction residential flat within the prescribed period. The ITAT held that booking a flat with a builder, supported by allotment letters and proof of payment, amounts to investment in construction of a residential house. Completion of construction, registration, or handing over of possession within the statutory period was not indispensable on these facts, especially where the delay was attributable to the developer and the assessee had made substantial payment within time. The Revenue's challenge failed, and the deduction under section 54 was upheld.
Section 54 relief was available where the assessee invested capital gains in an under-construction residential flat within the prescribed period. The ITAT held that booking a flat with a builder, supported by allotment letters and proof of payment, amounts to investment in construction of a residential house. Completion of construction, registration, or handing over of possession within the statutory period was not indispensable on these facts, especially where the delay was attributable to the developer and the assessee had made substantial payment within time. The Revenue's challenge failed, and the deduction under section 54 was upheld.
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