Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
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Notional rental income under Section 23(1)(a) is not chargeable on unsold flats during a period in which they are legally unoccupiable because no occupancy certificate has been issued. A completion certificate alone does not establish legal occupiability for this purpose. Consequently, notional rental income cannot form the basis for revision of an assessment for that period, and the Revenue's appeal was dismissed.
Notional rental income under Section 23(1)(a) is not chargeable on unsold flats during a period in which they are legally unoccupiable because no occupancy certificate has been issued. A completion certificate alone does not establish legal occupiability for this purpose. Consequently, notional rental income cannot form the basis for revision of an assessment for that period, and the Revenue's appeal was dismissed.
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