Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
ITAT remanded matter to AO for verification of agricultural land's distance from GHMC municipal limits as of sale date 07.09.2007. Land constitutes capital asset under Section 2(14)(iii)(b) if within 8 km radius of notified municipality. Tribunal upheld CIT(A)'s allowance of Section 54F exemption but clarified investment deadline extends to delayed return filing date under Section 139(4), not merely due date. Section 54B exemption properly restricted to registered sale deed values, rejecting higher agreement amounts. Cost of improvement deduction denied due to insufficient substantiation beyond rough notebook entries. AO directed to allow investments made up to delayed return filing date and verify land distance for capital asset determination.
ITAT remanded matter to AO for verification of agricultural land's distance from GHMC municipal limits as of sale date 07.09.2007. Land constitutes capital asset under Section 2(14)(iii)(b) if within 8 km radius of notified municipality. Tribunal upheld CIT(A)'s allowance of Section 54F exemption but clarified investment deadline extends to delayed return filing date under Section 139(4), not merely due date. Section 54B exemption properly restricted to registered sale deed values, rejecting higher agreement amounts. Cost of improvement deduction denied due to insufficient substantiation beyond rough notebook entries. AO directed to allow investments made up to delayed return filing date and verify land distance for capital asset determination.
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