Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
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...
ITAT held that deduction under section 54 could not be denied on technical or documentary objections where the record showed substantial investment in construction of a residential house and utilisation of capital gains for that purpose. It accepted the Joint Development Agreement and expenditure evidence as sufficient, noting no specific defect or adverse finding on genuineness, and applied a liberal construction to this beneficial exemption provision. The disallowance was deleted. On Chapter VI-A claims under sections 80C and 80D, the Tribunal upheld the direction to verify the supporting documents and allow the admissible deduction in accordance with law.
ITAT held that deduction under section 54 could not be denied on technical or documentary objections where the record showed substantial investment in construction of a residential house and utilisation of capital gains for that purpose. It accepted the Joint Development Agreement and expenditure evidence as sufficient, noting no specific defect or adverse finding on genuineness, and applied a liberal construction to this beneficial exemption provision. The disallowance was deleted. On Chapter VI-A claims under sections 80C and 80D, the Tribunal upheld the direction to verify the supporting documents and allow the admissible deduction in accordance with law.
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