Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Completed unsold units held as a builder-developer's stock-in-trade may attract deemed annual-value taxation once occupancy or completion certificates have been issued. Notional rental income should be calculated using municipal rateable value, rather than an ad hoc percentage of the units' cost or investment. A unit for which purchaser advances have been received may be treated as sold and excluded from deemed rent where final possession has not been delivered, subject to verification of the claim and supporting material. The discussion notes remand for verification of the advance claim and recomputation of annual letting value on the municipal rateable-value basis.
Completed unsold units held as a builder-developer's stock-in-trade may attract deemed annual-value taxation once occupancy or completion certificates have been issued. Notional rental income should be calculated using municipal rateable value, rather than an ad hoc percentage of the units' cost or investment. A unit for which purchaser advances have been received may be treated as sold and excluded from deemed rent where final possession has not been delivered, subject to verification of the claim and supporting material. The discussion notes remand for verification of the advance claim and recomputation of annual letting value on the municipal rateable-value basis.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
