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...
Revision u/s 263 - as per CIT AO had wrongly allowed the assessee exemption of capital gains claimed u/s 54B - Tribunal found that neither any inquiry was made by the AO regarding fulfillment of the basic conditions for eligibility to claim exemption under section 54B of the Act nor any documents were placed by the assessee before the AO establishing the same - Accordingly, the assessee's claim for exemption u/s 54B was denied due to non-compliance with the conditions. - ITAT uphold the order u/s 263 directing the AO to reexamine the issue.
Revision u/s 263 - as per CIT AO had wrongly allowed the assessee exemption of capital gains claimed u/s 54B - Tribunal found that neither any inquiry was made by the AO regarding fulfillment of the basic conditions for eligibility to claim exemption under section 54B of the Act nor any documents were placed by the assessee before the AO establishing the same - Accordingly, the assessee's claim for exemption u/s 54B was denied due to non-compliance with the conditions. - ITAT uphold the order u/s 263 directing the AO to reexamine the issue.
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