Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
Construction activity was held to involve both supply of goods and supply of services, and a project meeting the residential real estate project definition with under 15% commercial carpet area qualifies for concessional entries 3(i) and 3(ia); outcome - applicant may apply concessional GST rates subject to prescribed conditions. Valuation for taxable value must follow the valuation mechanism in paragraph 2 of the notification to exclude land value, and consequence - taxable value is computed after allowing deduction of one-third of the total amount charged for the supply.
Construction activity was held to involve both supply of goods and supply of services, and a project meeting the residential real estate project definition with under 15% commercial carpet area qualifies for concessional entries 3(i) and 3(ia); outcome - applicant may apply concessional GST rates subject to prescribed conditions. Valuation for taxable value must follow the valuation mechanism in paragraph 2 of the notification to exclude land value, and consequence - taxable value is computed after allowing deduction of one-third of the total amount charged for the supply.
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