Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
The ITAT held that deduction u/s 80IB(10) is allowed for flats exceeding 1000 sq. fts excluding open sky balcony. The Tribunal upheld the use of "Project Completion Method" for profit determination. High Court dismissed Revenue's appeal. The requirement for deduction u/s 80IB(10) is met if a housing project is approved by a local authority. The argument to combine projects under a common approval was rejected. No specific finding on violation of conditions in clauses (e) & (f) of section 80IB(10) was made, so this ground was rejected. Assessee's appeal was allowed.
The ITAT held that deduction u/s 80IB(10) is allowed for flats exceeding 1000 sq. fts excluding open sky balcony. The Tribunal upheld the use of "Project Completion Method" for profit determination. High Court dismissed Revenue's appeal. The requirement for deduction u/s 80IB(10) is met if a housing project is approved by a local authority. The argument to combine projects under a common approval was rejected. No specific finding on violation of conditions in clauses (e) & (f) of section 80IB(10) was made, so this ground was rejected. Assessee's appeal was allowed.
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