RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Limited scrutiny cannot be expanded into complete scrutiny without the written approval mandated by CBDT Instruction No. 7/2014; the Tribunal found that the assessment was enlarged beyond the original capital gains issue without such approval, so the assessment was quashed. Section 69A was not barred merely because the share acquisition transactions related to time-barred years, as the Tribunal treated the deeming fiction as sufficient to permit enquiry. For section 54F, exemption cannot be denied solely because the residential property was not conveyed by a registered sale deed; where purchase and investment within the statutory period were shown, the denial was unsustainable. The appeal was allowed.
Limited scrutiny cannot be expanded into complete scrutiny without the written approval mandated by CBDT Instruction No. 7/2014; the Tribunal found that the assessment was enlarged beyond the original capital gains issue without such approval, so the assessment was quashed. Section 69A was not barred merely because the share acquisition transactions related to time-barred years, as the Tribunal treated the deeming fiction as sufficient to permit enquiry. For section 54F, exemption cannot be denied solely because the residential property was not conveyed by a registered sale deed; where purchase and investment within the statutory period were shown, the denial was unsustainable. The appeal was allowed.
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