Packing-material input credits support inverted-duty refunds for packaged tea, while rate-reduction and concessional-supply circulars remain inapplica...
Government road-restoration services for commercial pipeline work attract reverse-charge GST, while portal-issued proceedings remain valid without a p...
Section 54F permits acquisition of a new residential asset within one year before transfer of the original asset and does not require that sale consideration alone fund the purchase. Where the flat is acquired within that period and the investment exceeds the capital gain, housing-loan financing does not disqualify the exemption; the capital-gain addition does not survive. Unexplained cash deposits remain liable to addition where the taxpayer produces no documentary evidence of source, fails to rebut adverse findings, and gives inconsistent explanations.
Section 54F permits acquisition of a new residential asset within one year before transfer of the original asset and does not require that sale consideration alone fund the purchase. Where the flat is acquired within that period and the investment exceeds the capital gain, housing-loan financing does not disqualify the exemption; the capital-gain addition does not survive. Unexplained cash deposits remain liable to addition where the taxpayer produces no documentary evidence of source, fails to rebut adverse findings, and gives inconsistent explanations.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4902 
