Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
The ITAT Indore ruled on LTCG deduction u/s 54B for agricultural lands bought in the wife and family's names, but funded entirely by the assessee. Citing SHRI LAXMI NARAYAN case, the tribunal held that Section 54B allows investments in the name of spouse and minors. Since the assessee used own funds from the sale of original asset, the deduction cannot be denied based on the lands being in family members' names. Assessee's appeal allowed.
The ITAT Indore ruled on LTCG deduction u/s 54B for agricultural lands bought in the wife and family's names, but funded entirely by the assessee. Citing SHRI LAXMI NARAYAN case, the tribunal held that Section 54B allows investments in the name of spouse and minors. Since the assessee used own funds from the sale of original asset, the deduction cannot be denied based on the lands being in family members' names. Assessee's appeal allowed.
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