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...
Addition u/s 56(2)(vii)(b)(ii) - difference between the stamp duty value and purchase value of agricultural land (immovable property) - the agricultural land purchased in the name of the assessee is not a ‘’capital asset’’ as per provisions of Section 2(14) of the Act and it is not covered by the definition of ‘’property’’ given in Explanation to Section 56(2)(vii)(b) - Additions deleted - AT
Addition u/s 56(2)(vii)(b)(ii) - difference between the stamp duty value and purchase value of agricultural land (immovable property) - the agricultural land purchased in the name of the assessee is not a ‘’capital asset’’ as per provisions of Section 2(14) of the Act and it is not covered by the definition of ‘’property’’ given in Explanation to Section 56(2)(vii)(b) - Additions deleted - AT
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