Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Actual and continuous agricultural operations are not a mandatory statutory condition under section 2(14)(iii) where land is agricultural in character and lies beyond prescribed municipal limits. The ITAT noted that this provision follows an objective test based on municipal limits, population and urban proximity, unlike sections 54B and 10(37), and that actual cultivation is only an evidentiary factor, not the sole or independent test. On the facts, the land remained agricultural in records, was outside municipal limits and a no-development zone, and the capital gains addition was deleted.
Actual and continuous agricultural operations are not a mandatory statutory condition under section 2(14)(iii) where land is agricultural in character and lies beyond prescribed municipal limits. The ITAT noted that this provision follows an objective test based on municipal limits, population and urban proximity, unlike sections 54B and 10(37), and that actual cultivation is only an evidentiary factor, not the sole or independent test. On the facts, the land remained agricultural in records, was outside municipal limits and a no-development zone, and the capital gains addition was deleted.
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