Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
The assessee was held to be a "developer" and not merely a "works contractor" for the purposes of claiming deduction u/s 80-IA(4) of the Income Tax Act. The Tribunal allowed the assessee's claim for deduction u/s 80-IA(4) on the ground that the assessee had deployed its own funds, equipment, and had undertaken the risk and liability from the inception of the project till its transfer to the Airport Authority of India. The Tribunal concluded that a new infrastructure facility, in the form of a New Expandable Modular Integrated Terminal Building at Raja Bhoj Airport, Bhopal, had come into existence, similar to the case of NCC-MSKEL JV, where a new domestic arrival block at Sardar Vallabh Bhai Patel International Airport, Ahmedabad, was held to be a new infrastructure facility eligible for deduction u/s 80-IA(4).
The assessee was held to be a "developer" and not merely a "works contractor" for the purposes of claiming deduction u/s 80-IA(4) of the Income Tax Act. The Tribunal allowed the assessee's claim for deduction u/s 80-IA(4) on the ground that the assessee had deployed its own funds, equipment, and had undertaken the risk and liability from the inception of the project till its transfer to the Airport Authority of India. The Tribunal concluded that a new infrastructure facility, in the form of a New Expandable Modular Integrated Terminal Building at Raja Bhoj Airport, Bhopal, had come into existence, similar to the case of NCC-MSKEL JV, where a new domestic arrival block at Sardar Vallabh Bhai Patel International Airport, Ahmedabad, was held to be a new infrastructure facility eligible for deduction u/s 80-IA(4).
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TaxTMI 
TaxTMI 
