Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
The Appellate Tribunal held in favor of the assessee regarding addition towards prior period expenses, citing consistency in previous rulings and emphasizing the assessing officer's obligation to consider the status as a whole. The Tribunal rejected the disallowance u/s 40(a)(ia) for demurrage charges, noting the nature of payments to foreign shipping companies and applicability of relevant Board Circular. TDS credit was denied initially due to non-inclusion in Form-26AS, but the Tribunal referred to CBDT Circular allowing credit based on original Form-16A submission, directing verification by the assessing officer. The Tribunal upheld the charging of interest u/s 234C, citing the lack of provision for waiver despite financial restructuring.
The Appellate Tribunal held in favor of the assessee regarding addition towards prior period expenses, citing consistency in previous rulings and emphasizing the assessing officer's obligation to consider the status as a whole. The Tribunal rejected the disallowance u/s 40(a)(ia) for demurrage charges, noting the nature of payments to foreign shipping companies and applicability of relevant Board Circular. TDS credit was denied initially due to non-inclusion in Form-26AS, but the Tribunal referred to CBDT Circular allowing credit based on original Form-16A submission, directing verification by the assessing officer. The Tribunal upheld the charging of interest u/s 234C, citing the lack of provision for waiver despite financial restructuring.
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