Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
A reassessment opened to tax long-term capital gains from a joint development agreement could also entertain a section 54F claim directly linked to that escaped income, because reassessment is not a review of concluded matters but relief bearing on the very income under examination. The Tribunal further held that a landowner's agreed share of residential units to be constructed and allotted by the developer can qualify as investment in construction of a residential house for section 54F purposes, following Karnataka High Court authorities. The exemption claim was therefore restored for fresh adjudication on the remaining statutory conditions.
A reassessment opened to tax long-term capital gains from a joint development agreement could also entertain a section 54F claim directly linked to that escaped income, because reassessment is not a review of concluded matters but relief bearing on the very income under examination. The Tribunal further held that a landowner's agreed share of residential units to be constructed and allotted by the developer can qualify as investment in construction of a residential house for section 54F purposes, following Karnataka High Court authorities. The exemption claim was therefore restored for fresh adjudication on the remaining statutory conditions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
