Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
LTCG - deduction u/s 54 denied - Despite the assessee's claim of having constructed a residential property within the specified timeframe, a physical inspection revealed the inadequacy of the alleged residential house. The property lacked basic amenities necessary for habitation, such as proper boundary walls, kitchen, electricity, and water connections. Certificates provided by the assessee were deemed insufficient to counter the findings of the physical inspection. Consequently, the Tribunal upheld the decision to deny the deduction under section 54, ruling that the assessee had not constructed a residential house within the prescribed time and without the necessary amenities for dwelling.
LTCG - deduction u/s 54 denied - Despite the assessee's claim of having constructed a residential property within the specified timeframe, a physical inspection revealed the inadequacy of the alleged residential house. The property lacked basic amenities necessary for habitation, such as proper boundary walls, kitchen, electricity, and water connections. Certificates provided by the assessee were deemed insufficient to counter the findings of the physical inspection. Consequently, the Tribunal upheld the decision to deny the deduction under section 54, ruling that the assessee had not constructed a residential house within the prescribed time and without the necessary amenities for dwelling.
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