W.T.AS. NOS.558/KB AND 559/KB OF 1998 versus W.T.AS. NOS.558/KB AND 559/KB OF 1998
Assessment of the value of the Association for the Wealth Tax Act 1963 Sections 7, 2 (5) (ii), Explanation (iii) and 25 (5) of immovable property held by Assisi for the purpose of construction and sale business. The cost of land / plot construction work includes the receipt of the premises booking in progress to include the cost of the work in progress in net money and deduction of the receipts from net wealth such as debt ownership and the extent of construction work. That the title of the plot had not yet been transferred in favor of Assisi. It was discovered before the Tribunal Appellate Tribunal fixed the assessment order for re-consideration in the case, as the full facts were not brought to the record, however, the cost of the plot, the construction work. , Guidelines for evaluating progress work and treating booking receipts accordingly
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