Notification No. 12/97-Customs(N.T.) amendment adds Malur Inland Container Depot in Karnataka to authorized locations for import unloading and export ...
Authority rules B+G+31 service apartment is commercial building construction, not multi-storey residential for tax classification under RERA definitio...
ITAT held that the transfer of the plot occurred in the previous year relevant to AY 2010-11 (FY 2009-10), since offer, acceptance and consideration were completed in FY 2009-10, payment was made and possession delivered, and the transaction's genuineness was subsequently recorded in a deed. The Tribunal found no contention of unfulfilled conditions and noted the assessee had declared the capital gains in AY 2010-11. Consequently, the disputed capital gains could not be taxed in the later assessment year under consideration. Grounds No. 1 and 2 raised by the assessee were allowed.
ITAT held that the transfer of the plot occurred in the previous year relevant to AY 2010-11 (FY 2009-10), since offer, acceptance and consideration were completed in FY 2009-10, payment was made and possession delivered, and the transaction's genuineness was subsequently recorded in a deed. The Tribunal found no contention of unfulfilled conditions and noted the assessee had declared the capital gains in AY 2010-11. Consequently, the disputed capital gains could not be taxed in the later assessment year under consideration. Grounds No. 1 and 2 raised by the assessee were allowed.
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