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...
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Composite EPC/turnkey public utility construction contracts for Government agencies were held not to be Consulting Engineer's service because the agreements showed complete construction, procurement, labour, commissioning, quality and maintenance obligations, with the fee representing only the contractor's profit margin. The Revenue could not vivisect the contract and tax only the fee component under that head, so the demand failed on classification. The extended period was also inapplicable because the projects were treated as exempt public utility works, the assessee acted under bona fide belief, and there was no specific evidence of wilful suppression or intent to evade.
Composite EPC/turnkey public utility construction contracts for Government agencies were held not to be Consulting Engineer's service because the agreements showed complete construction, procurement, labour, commissioning, quality and maintenance obligations, with the fee representing only the contractor's profit margin. The Revenue could not vivisect the contract and tax only the fee component under that head, so the demand failed on classification. The extended period was also inapplicable because the projects were treated as exempt public utility works, the assessee acted under bona fide belief, and there was no specific evidence of wilful suppression or intent to evade.
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