Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
Jurisdictional objection under section 124(3) failed because the assessee, after receiving notice and participating in the assessment without protest, was treated as having accepted the AO's territorial jurisdiction. For LTCG computation, the Tribunal held that the cost of acquisition of converted land could not be restricted merely because part of the area was left for roads and drainage; the full claimed cost with indexation had to be allowed. Where seized cash and surrounding material showed receipt of on-money, substitution of declared consideration with valuation-based fair market value was upheld. Interest under sections 234A and 234B was deleted because seized cash available with the Revenue should have been adjusted, while section 234C was confined to any default before seizure.
Jurisdictional objection under section 124(3) failed because the assessee, after receiving notice and participating in the assessment without protest, was treated as having accepted the AO's territorial jurisdiction. For LTCG computation, the Tribunal held that the cost of acquisition of converted land could not be restricted merely because part of the area was left for roads and drainage; the full claimed cost with indexation had to be allowed. Where seized cash and surrounding material showed receipt of on-money, substitution of declared consideration with valuation-based fair market value was upheld. Interest under sections 234A and 234B was deleted because seized cash available with the Revenue should have been adjusted, while section 234C was confined to any default before seizure.
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