Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
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ITAT upheld denial of deduction under s.54F for sums expended after acquisition of the dwelling, concluding such outlays constituted post-purchase renovation/modification and thus do not qualify as purchase of a new residential unit for s.54F relief. The tribunal affirmed lower authorities' rejection of the claim. Conversely, ITAT directed the AO to allow deduction under s.80C upon verification of the produced LIC premium receipt, ordering grant of the 80C claim accordingly and treating that ground as allowed for statistical purposes. The decision leaves the s.54F disallowance intact and mandates ministerial compliance by the AO regarding the 80C deduction.
ITAT upheld denial of deduction under s.54F for sums expended after acquisition of the dwelling, concluding such outlays constituted post-purchase renovation/modification and thus do not qualify as purchase of a new residential unit for s.54F relief. The tribunal affirmed lower authorities' rejection of the claim. Conversely, ITAT directed the AO to allow deduction under s.80C upon verification of the produced LIC premium receipt, ordering grant of the 80C claim accordingly and treating that ground as allowed for statistical purposes. The decision leaves the s.54F disallowance intact and mandates ministerial compliance by the AO regarding the 80C deduction.
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