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 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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