Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Transfer of an immovable residential property under a redevelopment agreement constituted a transfer of a capital asset in kind where the owners received constructed floors, an undivided share of land and cash. The ruling applies the principle that indexed cost of acquisition/construction is allowable over the entire transferred property and cannot be confined to the fractional undivided share corresponding to constructed area. The owners were held eligible for the deduction for reinvestment in residential property despite one floor being allotted to the developer; the assessing officer's disallowance of indexation was deleted and the officer directed to verify computation of the deduction.
Transfer of an immovable residential property under a redevelopment agreement constituted a transfer of a capital asset in kind where the owners received constructed floors, an undivided share of land and cash. The ruling applies the principle that indexed cost of acquisition/construction is allowable over the entire transferred property and cannot be confined to the fractional undivided share corresponding to constructed area. The owners were held eligible for the deduction for reinvestment in residential property despite one floor being allotted to the developer; the assessing officer's disallowance of indexation was deleted and the officer directed to verify computation of the deduction.
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