Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
LTCG - denial of a claim of exemption u/s 54 - new residential house property was purchased only after the lapse of two years from the sale of original property - The Tribunal found that the assessee had deposited the entire sale consideration in the Capital Gains Scheme Account before the due date for filing the return of income. Consequently, the Tribunal held that the assessee complied with the provisions of Section 54(2) of the Act. - Regarding the purchase of the new residential property, the Tribunal observed that the property bought by the assessee was an under-construction flat, for which the occupation certificate was awaited. As a result, they directed further examination to determine if the extended period of three years for construction as provided under Section 54 of the Act applied in this case.
LTCG - denial of a claim of exemption u/s 54 - new residential house property was purchased only after the lapse of two years from the sale of original property - The Tribunal found that the assessee had deposited the entire sale consideration in the Capital Gains Scheme Account before the due date for filing the return of income. Consequently, the Tribunal held that the assessee complied with the provisions of Section 54(2) of the Act. - Regarding the purchase of the new residential property, the Tribunal observed that the property bought by the assessee was an under-construction flat, for which the occupation certificate was awaited. As a result, they directed further examination to determine if the extended period of three years for construction as provided under Section 54 of the Act applied in this case.
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