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...
ITAT held that indexation benefit for property acquisition shall be calculated from the allotment date (3/12/2010), allowing cost indexation based on payments made during financial year 2010-11. The tribunal determined the property's acquisition date as the allotment letter date, permitting the assessee to claim indexed cost of acquisition. Additionally, the tribunal allowed brought forward long-term capital losses to be set off against long-term capital gains, noting no substantive reason existed to deny the claim, particularly since prior assessment orders had not challenged similar claims. Ground raised by the assessee was consequently allowed in entirety.
ITAT held that indexation benefit for property acquisition shall be calculated from the allotment date (3/12/2010), allowing cost indexation based on payments made during financial year 2010-11. The tribunal determined the property's acquisition date as the allotment letter date, permitting the assessee to claim indexed cost of acquisition. Additionally, the tribunal allowed brought forward long-term capital losses to be set off against long-term capital gains, noting no substantive reason existed to deny the claim, particularly since prior assessment orders had not challenged similar claims. Ground raised by the assessee was consequently allowed in entirety.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
