Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Advance ruling was barred where the same input tax credit question was already pending in enforcement proceedings against the applicant. The Authority held that, under the proviso to section 98(2), an advance ruling cannot be admitted on a question already pending in proceedings under the Act in the applicant's case. Because the jurisdictional authority had already initiated action on admissibility of input tax credit for construction of the hotel building, and the applicant did not dispute that fact, the application was rejected without any ruling on the merits.
Advance ruling was barred where the same input tax credit question was already pending in enforcement proceedings against the applicant. The Authority held that, under the proviso to section 98(2), an advance ruling cannot be admitted on a question already pending in proceedings under the Act in the applicant's case. Because the jurisdictional authority had already initiated action on admissibility of input tax credit for construction of the hotel building, and the applicant did not dispute that fact, the application was rejected without any ruling on the merits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
