Commission expenditure linked to pharmaceutical marketing income qualifies as business deduction when recipient identity, genuineness and business pur...
Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained ...
The ITAT Surat held that the assessee failed to fulfill conditions for LTCG deduction u/s 54F but allowed the deduction. The assessee used advance payments for construction of a new house. The ITAT cited M. George Jeoseph case to support the claim. Payments made to parties before and after filing return were justified. The ITAT referred to the ITO Vs. Rekha Shetty case to emphasize compliance with the main requirement of section 54. The CIT(A) approved deduction, noting genuine expenses for house construction. All payments to parties were supported by evidence. The Revenue's appeal was dismissed.
The ITAT Surat held that the assessee failed to fulfill conditions for LTCG deduction u/s 54F but allowed the deduction. The assessee used advance payments for construction of a new house. The ITAT cited M. George Jeoseph case to support the claim. Payments made to parties before and after filing return were justified. The ITAT referred to the ITO Vs. Rekha Shetty case to emphasize compliance with the main requirement of section 54. The CIT(A) approved deduction, noting genuine expenses for house construction. All payments to parties were supported by evidence. The Revenue's appeal was dismissed.
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