Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
The ITAT Chennai ruled on LTCG deduction u/s 54, stating that investment in more than one property is not allowed. Assessee invested in two distinct properties in spouse's name, disallowing deduction. Further investment claimed for LTCG was disallowed as AO did not consider additional payment for property improvement. Assessee provided evidence of payment to builder, but AO did not have these documents. The case is remanded to AO to allow assessee to substantiate the claim. The appeal is partly allowed for statistical purposes.
The ITAT Chennai ruled on LTCG deduction u/s 54, stating that investment in more than one property is not allowed. Assessee invested in two distinct properties in spouse's name, disallowing deduction. Further investment claimed for LTCG was disallowed as AO did not consider additional payment for property improvement. Assessee provided evidence of payment to builder, but AO did not have these documents. The case is remanded to AO to allow assessee to substantiate the claim. The appeal is partly allowed for statistical purposes.
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