A meeting of the GST Council, presided over by the Union Finance Minister, is anticipated before the Model Code of Conduct is enforced for the upcoming general election in April-May. There are strong indications that

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) while deleting the disallowance made by the assessing officer towards the interest expenses held that interest paid on loans borrowed for real estate and finance

Real estate sector is one of the largest contributors to the national GDP and provides employment opportunity to large numbers of people. “Housing for All by 2022” envisions that every citizen would have a house

The Calcutta High Court presided over the requirement to reverse accumulated credit by on-going real estate projects opting for a concessional rate of GST. The petitioner has preferred a writ petition being aggrieved by Rule

The National Company Law Tribunal (NCLT), Mumbai on last Saturday ruled that the advance amount received by a property owner from the real-estate developer for a re-development project qualifies as operational debt under the Insolvency

The Ministry of Corporate Affairs (MCA), vide notification no. G.S.R. 832(E) has notified the Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023. The rules shall be applicable to any Limited Liability Partnership (LLP). It came

The Security and Exchange Board of India (SEBI) on Tuesday notified the Securities and Exchange Board of India (Real Estate Investment Trusts) (Second Amendment) Regulations, 2020. The notification seeks amends the Securities and Exchange Board

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that eviction charges paid are allowable as business expenditure. Shri. S. Sridhar appeared for the appellant and Shri. G. Johnson appeared for the

The Delhi bench of the Income Tax Appellate Tribunal(ITAT) has held that a ‘Non-saleable area’ in real estate projects does not amount to suppression of closing stock and addition is not permissible. Trehan Promoters and

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the developer is not eligible for claiming deduction in respect of the expenses incurred on the land if the bills were raised after the

In a major relief to DLF Homes Panchkula Private Limited, the Delhi High Court quashed penal action for failure to deduct TDS on External Development Charges (EDC) paid to Haryana Urban Development Authority. The petitioner

The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that Land is not a Capital Asset but a 'Work-in-Progress' for a Real Estate Company. It was also observed that the Expenses incurred in connection

The Federal Tax Authority (FTA) has clarified regulations pertaining to Value Added Tax (VAT) when it comes to the real estate sector, stating that the supply of commercial real estate (selling or leasing) will be

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the mere transfer of  real estate and construction business  is not a case of succession of the firm by a company rather a

In the case of M/s. A.N. Buildwell Pvt. Ltd Vs. DCIT, the ITAT Delhi bench comprising Amit Shukla (JM) and SH. O.P. Kant (AM) was held that if the significant risk and reward are transferred