Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
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The HC upheld the ITAT's decision affirming the CIT(A)'s direction to exclude service areas, window areas, window projections, and cupboard projections from the "built up area" calculation under Section 80IB(10) for the 1000 sq.ft. eligibility limit. The court held that "built up area" encompasses the carpet area and habitable projections but excludes common areas and non-habitable features. The flower bed area was correctly excluded as it lies outside the residential unit, is open to the sky, below floor level, and non-habitable. Service areas, used for building maintenance and inaccessible to flat owners, and unsafe window projections were also rightly excluded. The court found no substantial question of law warranting interference, confirming that the deductions under Section 80IB(10) must be computed based on habitable, enclosed areas, excluding ornamental or common spaces.
The HC upheld the ITAT's decision affirming the CIT(A)'s direction to exclude service areas, window areas, window projections, and cupboard projections from the "built up area" calculation under Section 80IB(10) for the 1000 sq.ft. eligibility limit. The court held that "built up area" encompasses the carpet area and habitable projections but excludes common areas and non-habitable features. The flower bed area was correctly excluded as it lies outside the residential unit, is open to the sky, below floor level, and non-habitable. Service areas, used for building maintenance and inaccessible to flat owners, and unsafe window projections were also rightly excluded. The court found no substantial question of law warranting interference, confirming that the deductions under Section 80IB(10) must be computed based on habitable, enclosed areas, excluding ornamental or common spaces.
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