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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Issue concerns eligibility for capital gains exemption under Section 54 where the replacement dwelling was an under construction flat. The article explains the Tribunal treated acquisition as effected on discharge of balance consideration and taking possession on completion, not on execution of the booking agreement. Applying the substance of the transaction, possession/payment on completion (07-01-2015) was held to be the relevant date for the two year compliance measured from transfer (28-10-2013), therefore the statutory conditions were satisfied and the exemption was allowed.
Issue concerns eligibility for capital gains exemption under Section 54 where the replacement dwelling was an under construction flat. The article explains the Tribunal treated acquisition as effected on discharge of balance consideration and taking possession on completion, not on execution of the booking agreement. Applying the substance of the transaction, possession/payment on completion (07-01-2015) was held to be the relevant date for the two year compliance measured from transfer (28-10-2013), therefore the statutory conditions were satisfied and the exemption was allowed.
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