Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The AT accepted the DGAP report in part, finding that the respondent had profiteered Rs. 6,88,770 for the period 27.07.2018-31.10.2018 and directed the respondent to deposit that profiteered amount into the Consumer Welfare Fund, to be apportioned equally between the Centre and States. The Tribunal held that the statutory provision imposing interest at 18% on profiteered amounts is not applicable retrospectively; it operates only from the date the amending rule came into force (post-28.06.2019), and therefore, because the profiteering occurred prior thereto, the respondent was not directed to pay interest. The application was disposed of accordingly.
The AT accepted the DGAP report in part, finding that the respondent had profiteered Rs. 6,88,770 for the period 27.07.2018-31.10.2018 and directed the respondent to deposit that profiteered amount into the Consumer Welfare Fund, to be apportioned equally between the Centre and States. The Tribunal held that the statutory provision imposing interest at 18% on profiteered amounts is not applicable retrospectively; it operates only from the date the amending rule came into force (post-28.06.2019), and therefore, because the profiteering occurred prior thereto, the respondent was not directed to pay interest. The application was disposed of accordingly.
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