Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The petitioner was directed to pay a 5% penalty of the prevailing plot cost for the belated implementation of the project as per Clause 2.1.2.(a) of O.O.No.30 of 2020. However, the petitioner complied with the clause by utilizing more than 65% of the plot and had commenced production before dispatching goods. Despite paying the penalty amount, the petitioner was again directed to pay a 5% penalty. The Court found infirmity and illegality in the impugned order and quashed it, allowing the petition, as the petitioner had already paid the penalty and commenced production before dispatching goods, complying with all conditions.
The petitioner was directed to pay a 5% penalty of the prevailing plot cost for the belated implementation of the project as per Clause 2.1.2.(a) of O.O.No.30 of 2020. However, the petitioner complied with the clause by utilizing more than 65% of the plot and had commenced production before dispatching goods. Despite paying the penalty amount, the petitioner was again directed to pay a 5% penalty. The Court found infirmity and illegality in the impugned order and quashed it, allowing the petition, as the petitioner had already paid the penalty and commenced production before dispatching goods, complying with all conditions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
