Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
ITAT treated the exemption for capital gains invested in purchase of a plot and construction of a residential house as a beneficial provision requiring liberal, purposive construction. It held that once investment in acquisition and construction was established, strict insistence on a completion certificate or full completion within the period was not the sole test, and COVID-19 disruptions justified the delay; substantial compliance was enough, so the disallowance was unjustified and the exemption had to be allowed. On the stamp duty issue, it held that where the variation between purchase price and stamp duty value was below the enhanced 10% tolerance band, the curative amendment applied and the addition could not survive, so it was deleted.
ITAT treated the exemption for capital gains invested in purchase of a plot and construction of a residential house as a beneficial provision requiring liberal, purposive construction. It held that once investment in acquisition and construction was established, strict insistence on a completion certificate or full completion within the period was not the sole test, and COVID-19 disruptions justified the delay; substantial compliance was enough, so the disallowance was unjustified and the exemption had to be allowed. On the stamp duty issue, it held that where the variation between purchase price and stamp duty value was below the enhanced 10% tolerance band, the curative amendment applied and the addition could not survive, so it was deleted.
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