Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Classification of goods - Sulphuric Acid, used in the manufacture of Agricultural Grade Zinc Sulphate - classified as fertiliser under Chapter 31 of CETA or classifiable under 28332990 of CETA - Both appellants successfully argued that despite Zinc Sulphate’s classification under a non-fertilizer tariff, its use as a fertilizer in agriculture justified the exemption. The Tribunal aligned with this broader, functional interpretation of the law, setting a precedent for similar cases, where the end use of the product determines its classification for tax purposes rather than strict adherence to tariff codes.
Classification of goods - Sulphuric Acid, used in the manufacture of Agricultural Grade Zinc Sulphate - classified as fertiliser under Chapter 31 of CETA or classifiable under 28332990 of CETA - Both appellants successfully argued that despite Zinc Sulphate’s classification under a non-fertilizer tariff, its use as a fertilizer in agriculture justified the exemption. The Tribunal aligned with this broader, functional interpretation of the law, setting a precedent for similar cases, where the end use of the product determines its classification for tax purposes rather than strict adherence to tariff codes.
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