CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
The ITAT upheld the CIT(A)'s order deleting additions made by the AO. On closing stock under the Percentage Completion Method, it affirmed that there was no dispute on project parameters and that the difference arose solely from the AO's computational error in recognizing turnover, warranting deletion of the addition. Regarding addition under s.43CA on sale of immovable property, the ITAT agreed that stamp duty valuation must correspond to the year of the agreement to sell, not the subsequent sale deed, and found no error in CIT(A) accepting additional evidence. Further, interest on service tax and TDS was held compensatory, not penal, and allowable as deduction.
The ITAT upheld the CIT(A)'s order deleting additions made by the AO. On closing stock under the Percentage Completion Method, it affirmed that there was no dispute on project parameters and that the difference arose solely from the AO's computational error in recognizing turnover, warranting deletion of the addition. Regarding addition under s.43CA on sale of immovable property, the ITAT agreed that stamp duty valuation must correspond to the year of the agreement to sell, not the subsequent sale deed, and found no error in CIT(A) accepting additional evidence. Further, interest on service tax and TDS was held compensatory, not penal, and allowable as deduction.
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