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Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
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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