Purposive interpretation of residential house exemption: unregistered purchase agreement alone does not defeat relief, but investment must be verified...
Page of 4817
Press 'Enter' after typing page number.
3041 to 3060 of 96333 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Deduction under section 35AD could not be denied merely because Form No. 10CCB was not filed with the return, where the audit report was furnished before completion of the fresh assessment proceedings. The Tribunal treated the filing requirement as directory, relying on precedent that submission before assessment completion is sufficient. It rejected the Revenue's distinction between original and fresh assessment under section 263, holding that restored proceedings are to be considered afresh and all material filed before completion must be examined. The assessee's disclosure of the claim in the return and tax audit report, together with waiver of depreciation, supported substantive compliance, so the disallowance was unsustainable.
Deduction under section 35AD could not be denied merely because Form No. 10CCB was not filed with the return, where the audit report was furnished before completion of the fresh assessment proceedings. The Tribunal treated the filing requirement as directory, relying on precedent that submission before assessment completion is sufficient. It rejected the Revenue's distinction between original and fresh assessment under section 263, holding that restored proceedings are to be considered afresh and all material filed before completion must be examined. The assessee's disclosure of the claim in the return and tax audit report, together with waiver of depreciation, supported substantive compliance, so the disallowance was unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
