Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Addition u/s 56(2)(vii)(b) - valuation of land purchased by assessee - deemed gift under section 56(2)(vii)(b)(ii) - Assessee submitted that, actual deed could not be materialised and no transaction of land taken place - actually no transaction has been materialised for which it could be assumed that deemed gift is assessable in the hands of the assessee. In view of the above discussion, we allow this appeal and delete the addition done by the Assessing Officer with the aid of section 56(2)(vii)(b) (ii) - AT
Addition u/s 56(2)(vii)(b) - valuation of land purchased by assessee - deemed gift under section 56(2)(vii)(b)(ii) - Assessee submitted that, actual deed could not be materialised and no transaction of land taken place - actually no transaction has been materialised for which it could be assumed that deemed gift is assessable in the hands of the assessee. In view of the above discussion, we allow this appeal and delete the addition done by the Assessing Officer with the aid of section 56(2)(vii)(b) (ii) - AT
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