Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Addition of sales of flats - suppression of sale price of the flats in order to evade the tax - The maxim Falsus in uno and falsus in omnibus has an obligation in India and it has not received any acceptance or approval by the higher courts. It is therefore clear that the action of the AO in calculating the so-called understatement of the cost of the flats for all the 3 years and making addition is accordingly cannot be justified. - AT
Addition of sales of flats - suppression of sale price of the flats in order to evade the tax - The maxim Falsus in uno and falsus in omnibus has an obligation in India and it has not received any acceptance or approval by the higher courts. It is therefore clear that the action of the AO in calculating the so-called understatement of the cost of the flats for all the 3 years and making addition is accordingly cannot be justified. - AT
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