The Tribunal held that booking a flat in an under-construction project qualifies as construction. Since possession was obtained within three years, full deduction under section 54 was allowed.
The Tribunal held that long-term capital gains cannot be treated as bogus based solely on investigation reports. In absence of independent inquiry or evidence, the addition was deleted.
The Tribunal dismissed the appeals as the tax effect was below the CBDT’s prescribed limit. The case was not examined on merits due to non-maintainability.
The ruling rejected re-characterization of share transactions as loans in absence of exceptional circumstances. Interest imputation on such transactions was deleted.
The Tribunal dismissed the appeal after finding that an identical appeal had already been filed and heard. The case was treated as duplicate and not examined on merits.
The issue involved classification of a PVC pipe production machine under customs law. The Authority held that continuous extrusion, not moulding, determines classification. The key takeaway is that process type governs tariff classification.
The case examined whether a wearable smart ring is a communication device or a measuring instrument. The authority held that its primary function is measurement through sensors, leading to classification under Heading 9031.
The applicants claim for classification under fan category was denied due to lack of fan or blower in the product. The ruling emphasized strict interpretation of tariff headings. The key takeaway is that product features must match classification criteria.
The ruling held that dashcams are continuous video recording devices and not digital still image cameras. Hence, exemption under Sl. No. 288 was denied, but concessional duty was allowed.
The issue involved classification of certain oil products under customs law. The Authority allowed withdrawal as the request was made before the ruling. The takeaway is that applications can be withdrawn prior to adjudication.
