Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Page of 4811
Press 'Enter' after typing page number.
661 to 680 of 96208 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Exemption under section 54B requires proof of actual agricultural use of the land during the prescribed period; mere classification in revenue records is insufficient. The Tribunal found that revised 7/12 extracts could only raise a presumption and were not conclusive without corroborative evidence such as produce sale bills, seed or fertiliser purchase records, labour records, or other material showing active cultivation. As no such evidence was produced, the essential statutory condition remained unproved and the denial of exemption was upheld, with the addition sustained. The Tribunal also distinguished the cited contrary precedent on facts and relied on authority holding that revenue entries alone do not establish agricultural use.
Exemption under section 54B requires proof of actual agricultural use of the land during the prescribed period; mere classification in revenue records is insufficient. The Tribunal found that revised 7/12 extracts could only raise a presumption and were not conclusive without corroborative evidence such as produce sale bills, seed or fertiliser purchase records, labour records, or other material showing active cultivation. As no such evidence was produced, the essential statutory condition remained unproved and the denial of exemption was upheld, with the addition sustained. The Tribunal also distinguished the cited contrary precedent on facts and relied on authority holding that revenue entries alone do not establish agricultural use.
Note: It is a system-generated summary and is for quick reference only.