ITAT held that execution of a registered joint development agreement amounts to transfer of land. Capital gains timing must be determined from that date, not a later year chosen by the assessee.
Explains when GST applies to real estate transactions and when sale of land or buildings falls outside GST. The key takeaway is that GST targets construction services, not immovable property itself.
The Tribunal held that reopening after four years is invalid without alleging failure to disclose material facts. The reassessment was barred by the proviso to section 147.
The Tribunal held that rural agricultural land excluded from capital asset under Section 2(14) cannot be taxed under Section 56(2)(vii)(b). Addition based on stamp duty valuation was therefore deleted in full.
Indian law permits LLPs that have stopped operations and cleared liabilities to voluntarily strike off their name. The process enables a clean, lawful exit while avoiding ongoing compliance costs and penalties.
The Tribunal held that serving notices on an outdated email ID violates principles of natural justice. The assessment was set aside and the matter restored for fresh adjudication after proper service.
The authority ruled that carbon pultruded plates are not carbon fibre under the amended exemption notification and therefore cannot claim concessional duty as raw materials, clarifying the limited scope of the revised entry.
AAR Mumbai held that architecturally finished stainless steel wall panels retain the character of flat-rolled products and must be classified under Heading 7219, not as structural parts or miscellaneous articles.
The authority examined whether a plastic nozzle connector should be taxed as a general plastic article or as machinery parts. It held that exclusive and indispensable use in washing machines requires classification as a machine part under heading 8450.
The ITAT held that income addition based solely on Form 26AS differences cannot survive when books are audited and no defects are found.
