Commission expenditure linked to pharmaceutical marketing income qualifies as business deduction when recipient identity, genuineness and business pur...
Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained ...
The appellant did not acquire a new residential property within the specified time period, failing the mandatory condition for deduction u/s 54. The CIT(A)-NFAC incorrectly invoked the "one year before the transfer" limb, concluding that the assessee is ineligible for deduction. However, the relevant date for computing the limitation u/s 54 in all three eventualities is the payment of consideration and possession of the new property. Judicial precedents support this interpretation. The assessee is entitled to the deduction u/s 54.
The appellant did not acquire a new residential property within the specified time period, failing the mandatory condition for deduction u/s 54. The CIT(A)-NFAC incorrectly invoked the "one year before the transfer" limb, concluding that the assessee is ineligible for deduction. However, the relevant date for computing the limitation u/s 54 in all three eventualities is the payment of consideration and possession of the new property. Judicial precedents support this interpretation. The assessee is entitled to the deduction u/s 54.
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