Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
The AAR determined that the applicant's residential project did not fully qualify as an "ongoing project" under the GST notification. Only towers A, B, and C were eligible for the 12% GST rate (net 8% after land deduction) with input tax credit, subject to specified conditions. Projects initiated after 01.04.2019 were ineligible for the previous tax structure, requiring developers to choose between 1% (affordable housing) or 5% (without input tax credit) tax rates. The ruling partially allowed the applicant's original tax treatment, limiting the preferential GST rate to specific towers while excluding the remaining project components.
The AAR determined that the applicant's residential project did not fully qualify as an "ongoing project" under the GST notification. Only towers A, B, and C were eligible for the 12% GST rate (net 8% after land deduction) with input tax credit, subject to specified conditions. Projects initiated after 01.04.2019 were ineligible for the previous tax structure, requiring developers to choose between 1% (affordable housing) or 5% (without input tax credit) tax rates. The ruling partially allowed the applicant's original tax treatment, limiting the preferential GST rate to specific towers while excluding the remaining project components.
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