Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Assessment of capital gain - transfer u/s. 2(47)(vi) r/w s. 2(47)(i) - JV agreement for construction of building/s - Construction nearing completion but delay in payment of consideration - If the assessee hasn't initiated any legal process for cost recovery from the developer, a shortfall in consideration will result in incurring cost to a proportionate extent. If construction is incomplete, the value of consideration must be scaled down accordingly. The details must be clarified by the assessee and examined by the Revenue authorities. The actual cost incurred may not be in the same proportion due to delay, but this is irrelevant for computing capital gain. Any supporting material will be examined and adjudicated upon. - AT
Assessment of capital gain - transfer u/s. 2(47)(vi) r/w s. 2(47)(i) - JV agreement for construction of building/s - Construction nearing completion but delay in payment of consideration - If the assessee hasn't initiated any legal process for cost recovery from the developer, a shortfall in consideration will result in incurring cost to a proportionate extent. If construction is incomplete, the value of consideration must be scaled down accordingly. The details must be clarified by the assessee and examined by the Revenue authorities. The actual cost incurred may not be in the same proportion due to delay, but this is irrelevant for computing capital gain. Any supporting material will be examined and adjudicated upon. - AT
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