Request-driven road restoration attracts reverse-charge GST, not governmental-function treatment or compensatory-damages status for business recipient...
Road restoration charges for commercial pipeline works are taxable Government services, with reverse charge liability and no public-function exemption...
Model-wise import cap monitoring cannot justify withholding used multifunction machines where all-India tracking is absent and full security is furnis...
This is a summary of a case dealing with the determination of fair market value (FMV) for computing long-term capital gains (LTCG) and allowing deductions for cost of improvements. The key points are: the Tax Appellate Tribunal upheld the Assessing Officer's adoption of FMV as per the District Valuation Officer's report, rejecting the assessee's argument for using the 'reverse indexation method'. However, the Tribunal allowed the deduction for cost of improvement incurred in FY 1991-92, which was erroneously omitted by lower authorities. It also directed the Assessing Officer to rectify a mathematical mistake in computing the total indexed cost of improvement. The Tribunal's decision partially favored the assessee regarding the allowable deductions.
This is a summary of a case dealing with the determination of fair market value (FMV) for computing long-term capital gains (LTCG) and allowing deductions for cost of improvements. The key points are: the Tax Appellate Tribunal upheld the Assessing Officer's adoption of FMV as per the District Valuation Officer's report, rejecting the assessee's argument for using the 'reverse indexation method'. However, the Tribunal allowed the deduction for cost of improvement incurred in FY 1991-92, which was erroneously omitted by lower authorities. It also directed the Assessing Officer to rectify a mathematical mistake in computing the total indexed cost of improvement. The Tribunal's decision partially favored the assessee regarding the allowable deductions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
