Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
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...
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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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