Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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ITAT upheld CIT(A)'s deletion of disallowances for material and plot development expenses totaling Rs. 4,51,00,181, finding that common expenditure was legitimately borne by RNTC under development agreement, while assessee incurred specific plot development costs recoverable at Rs. 100 per sq. meter from plot owners. However, ITAT reversed CIT(A) regarding commission/brokerage expense disallowance, ruling that since land ownership vested with RNTC under development agreement, commission for individual plot sales should be borne by RNTC, not assessee. AO's action disallowing commission expense and reducing capitalized closing stock was upheld. Revenue's appeal partially allowed.
ITAT upheld CIT(A)'s deletion of disallowances for material and plot development expenses totaling Rs. 4,51,00,181, finding that common expenditure was legitimately borne by RNTC under development agreement, while assessee incurred specific plot development costs recoverable at Rs. 100 per sq. meter from plot owners. However, ITAT reversed CIT(A) regarding commission/brokerage expense disallowance, ruling that since land ownership vested with RNTC under development agreement, commission for individual plot sales should be borne by RNTC, not assessee. AO's action disallowing commission expense and reducing capitalized closing stock was upheld. Revenue's appeal partially allowed.
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