Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
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...
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In the case before ITAT Jabalpur, the issue revolved around the addition u/s 43CA concerning the variance between the sale consideration and the market value of a property. The AO contended that an unregistered agreement of sale could not be legally recognized and highlighted discrepancies in parties involved in transactions. However, the Tribunal ruled in favor of the assessee, recognizing entitlement to benefits u/s 43CA (3) for plots booked in specific financial years. The AO was directed to recalculate profits, considering detailed registry information on plot sales annually and granting the benefits of Section 43CA accordingly.
In the case before ITAT Jabalpur, the issue revolved around the addition u/s 43CA concerning the variance between the sale consideration and the market value of a property. The AO contended that an unregistered agreement of sale could not be legally recognized and highlighted discrepancies in parties involved in transactions. However, the Tribunal ruled in favor of the assessee, recognizing entitlement to benefits u/s 43CA (3) for plots booked in specific financial years. The AO was directed to recalculate profits, considering detailed registry information on plot sales annually and granting the benefits of Section 43CA accordingly.
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