Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
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The dominant issue is the relevant date for acquisition under section 54: the Tribunal applied the principle that actual handing over of possession (confirmed by an Occupation Certificate and possession letter) and completion of payment determine the acquisition date, not solely the date of registration. Applying that legal principle to the facts, the Tribunal found possession occurred before transfer of the original property, held the one year requirement satisfied, deleted the Assessing Officer's addition and allowed the deduction for the assessment year. (ITAT decision reflected.)
The dominant issue is the relevant date for acquisition under section 54: the Tribunal applied the principle that actual handing over of possession (confirmed by an Occupation Certificate and possession letter) and completion of payment determine the acquisition date, not solely the date of registration. Applying that legal principle to the facts, the Tribunal found possession occurred before transfer of the original property, held the one year requirement satisfied, deleted the Assessing Officer's addition and allowed the deduction for the assessment year. (ITAT decision reflected.)
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