Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
Deduction u/s 80IB(7A) was denied as income from sale of shop, though built by assessee, was not owned or operated as integral part of multiplex at time of accrual. Assessee lost ownership and operating power over shop, an integral part of multiplex theatre. Contention that similar disallowance was not made in previous year when income was shown under 'Capital Gains' was rejected as no precedent of assessing such income under 'Business income'. Case laws relied upon were held irrelevant.
Deduction u/s 80IB(7A) was denied as income from sale of shop, though built by assessee, was not owned or operated as integral part of multiplex at time of accrual. Assessee lost ownership and operating power over shop, an integral part of multiplex theatre. Contention that similar disallowance was not made in previous year when income was shown under 'Capital Gains' was rejected as no precedent of assessing such income under 'Business income'. Case laws relied upon were held irrelevant.
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TaxTMI 
TaxTMI 
of 4894 
