Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
ITAT adjudicated multiple taxation issues involving property-related income and interest deductions. The tribunal held that: (1) reassessment notice issued to a non-existing entity was null and void, quashing the re-assessment order; (2) pre-construction interest deduction under Section 24(b) was allowable for the entire Rs. 30 Crore loan utilized for property acquisition, rejecting proportionate disallowance; (3) maintenance charges from lessees were correctly classified as business income; and (4) loan substitution for property acquisition was acceptable, permitting interest deduction when nexus between loan and property was established. The tribunal ultimately confirmed the lower appellate authority's order in favor of the assessee.
ITAT adjudicated multiple taxation issues involving property-related income and interest deductions. The tribunal held that: (1) reassessment notice issued to a non-existing entity was null and void, quashing the re-assessment order; (2) pre-construction interest deduction under Section 24(b) was allowable for the entire Rs. 30 Crore loan utilized for property acquisition, rejecting proportionate disallowance; (3) maintenance charges from lessees were correctly classified as business income; and (4) loan substitution for property acquisition was acceptable, permitting interest deduction when nexus between loan and property was established. The tribunal ultimately confirmed the lower appellate authority's order in favor of the assessee.
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