Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
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Income from house property - Determining the ALV of flats disclosed in the stock in trade as per the Accounting standards and policies being fallowed consistently by the assessee - ITAT held that the ALV of the unsold flats held as stock in trade should not be computed under the head "Income from Property" but should be assessed as business income. The ITAT relied on the amendment in the Finance Act 2017, which applied prospectively from the assessment year 2018-19, to support its decision.
Income from house property - Determining the ALV of flats disclosed in the stock in trade as per the Accounting standards and policies being fallowed consistently by the assessee - ITAT held that the ALV of the unsold flats held as stock in trade should not be computed under the head "Income from Property" but should be assessed as business income. The ITAT relied on the amendment in the Finance Act 2017, which applied prospectively from the assessment year 2018-19, to support its decision.
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