Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
Assessee's entitlement to exemption under s.54F: (1) Whether assessee owned more than one residential house-AO's finding that a vacant/industrial land with leased factory constituted a residential house was factually erroneous; land at 13 BT Road was non-residential and excluded from proviso sub-clause (i), therefore no disqualification - exemption allowed on this point. (2) Whether jointly held family property precluded s.54F - joint co-ownership meant the proviso's exclusivity test was not satisfied and did not bar the claim - exemption allowed. (3) Whether use of sale proceeds/colourable device/clubbing u/s 64 applied - no requirement to directly deploy sale proceeds; gift/clubbing allegation rejected on facts and cultural motive; exemption upheld. - ITAT
Assessee's entitlement to exemption under s.54F: (1) Whether assessee owned more than one residential house-AO's finding that a vacant/industrial land with leased factory constituted a residential house was factually erroneous; land at 13 BT Road was non-residential and excluded from proviso sub-clause (i), therefore no disqualification - exemption allowed on this point. (2) Whether jointly held family property precluded s.54F - joint co-ownership meant the proviso's exclusivity test was not satisfied and did not bar the claim - exemption allowed. (3) Whether use of sale proceeds/colourable device/clubbing u/s 64 applied - no requirement to directly deploy sale proceeds; gift/clubbing allegation rejected on facts and cultural motive; exemption upheld. - ITAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
