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...
Assessee was granted deduction u/s 54F as evidence of construction of residential house worth Rs. 1.25 crore on ancestral land using funds from sale of agricultural land was accepted by ITAT. Benefit u/s 54B for purchase of agricultural land worth Rs. 3.08 crore was also allowed as sale deeds were furnished. Addition of Rs. 40 lakh as unexplained cash credit on account of loan from brother was deleted as affidavit, cash flow statement and sale agreement substantiated the transaction.
Assessee was granted deduction u/s 54F as evidence of construction of residential house worth Rs. 1.25 crore on ancestral land using funds from sale of agricultural land was accepted by ITAT. Benefit u/s 54B for purchase of agricultural land worth Rs. 3.08 crore was also allowed as sale deeds were furnished. Addition of Rs. 40 lakh as unexplained cash credit on account of loan from brother was deleted as affidavit, cash flow statement and sale agreement substantiated the transaction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
