Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Section 54F permits exemption based on investment in a residential house through purchase, construction, or a combination of both. The cost of the new asset can include bona fide expenditure incurred after purchase for reconstruction, alteration, renovation and improvements that make the house fit for residence. Habitability of the purchased house and reconstruction expenditure exceeding its purchase cost do not independently restrict the exemption, as no statutory ceiling applies to construction quality or amenities. Expenditure on independent comfort items remains excluded. Where reconstruction expenditure is genuine and not linked to excluded items, the aggregate purchase and reconstruction cost qualifies for the Section 54F exemption.
Section 54F permits exemption based on investment in a residential house through purchase, construction, or a combination of both. The cost of the new asset can include bona fide expenditure incurred after purchase for reconstruction, alteration, renovation and improvements that make the house fit for residence. Habitability of the purchased house and reconstruction expenditure exceeding its purchase cost do not independently restrict the exemption, as no statutory ceiling applies to construction quality or amenities. Expenditure on independent comfort items remains excluded. Where reconstruction expenditure is genuine and not linked to excluded items, the aggregate purchase and reconstruction cost qualifies for the Section 54F exemption.
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