Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
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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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