Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Computation of book profit u/s 115JB does not allow inclusion of capital gain from sale of flats with indexed cost benefit. Section 115JB requires calculation of book profit in accordance with Part-II and Part-III of Schedule VI of Companies Act, subject to adjustments provided therein. Absence of specific clause allowing claimed benefit precludes assessee from calculating book profit by including net gains from sale of capital assets after claiming indexed cost of acquisition. Appeal dismissed, confirming view taken by CIT(Appeals).
Computation of book profit u/s 115JB does not allow inclusion of capital gain from sale of flats with indexed cost benefit. Section 115JB requires calculation of book profit in accordance with Part-II and Part-III of Schedule VI of Companies Act, subject to adjustments provided therein. Absence of specific clause allowing claimed benefit precludes assessee from calculating book profit by including net gains from sale of capital assets after claiming indexed cost of acquisition. Appeal dismissed, confirming view taken by CIT(Appeals).
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