Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Deduction u/s 80IB(10) for an undertaking developing and building housing projects approved before March 31 by a local authority. The scope of the definition of 'built-up area' was examined. The DVO's report showing violation related to two row houses having an area more than 1500 sq.ft. was not considered. It was held that for projects approved prior to April 1, 2005, the assessee could legitimately claim deduction u/s 80IB(10) based on the plans approved by the Planning Authority, as the concept of built-up area, including inner measurement, projections, balconies, and wall thickness, but excluding common areas, was not applicable. Applying such parameters retrospectively would lead to absurd results. The expression 'built-up area' introduced from April 1, 2005, cannot be applied retrospectively, and the Tribunal was justified in excluding the balcony area for the period up to April 1, 2005. The decision was in favor of the assessee.
Deduction u/s 80IB(10) for an undertaking developing and building housing projects approved before March 31 by a local authority. The scope of the definition of 'built-up area' was examined. The DVO's report showing violation related to two row houses having an area more than 1500 sq.ft. was not considered. It was held that for projects approved prior to April 1, 2005, the assessee could legitimately claim deduction u/s 80IB(10) based on the plans approved by the Planning Authority, as the concept of built-up area, including inner measurement, projections, balconies, and wall thickness, but excluding common areas, was not applicable. Applying such parameters retrospectively would lead to absurd results. The expression 'built-up area' introduced from April 1, 2005, cannot be applied retrospectively, and the Tribunal was justified in excluding the balcony area for the period up to April 1, 2005. The decision was in favor of the assessee.
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