Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
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Section 54F requires construction of a residential house within three years of transfer of the original asset; it does not require the underlying land to be acquired after that transfer. The cost of land bought earlier may therefore form part of the cost of the new residential house. The note further explains that failure to deposit unutilised capital gains in the Capital Gains Account Scheme by the section 139(1) due date does not defeat exemption where the consideration is actually used for genuine construction within the statutory period, treating the deposit requirement as procedural where substantive investment conditions are met.
Section 54F requires construction of a residential house within three years of transfer of the original asset; it does not require the underlying land to be acquired after that transfer. The cost of land bought earlier may therefore form part of the cost of the new residential house. The note further explains that failure to deposit unutilised capital gains in the Capital Gains Account Scheme by the section 139(1) due date does not defeat exemption where the consideration is actually used for genuine construction within the statutory period, treating the deposit requirement as procedural where substantive investment conditions are met.
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