Partial completion of housing project — Eligibility for deduction under section 80-IB(10)
Assessee can claim deduction under section 80-IB on year to year basis, in view of the Circular of the CBDT dated 30-6-2009, even though the assessee proposes to construct on the entire extent of land and paid the development charges in this regard. Therefore, where the assessee completed the project in respect of one block, the assessee was eligible for deduction under section 80-IB( 10) of the Act in respect of the same. – Vide Nagarjuna Homes v.Income Tax Officer (2011) 42(II) ITCL 199 (Hyd-Trib)
SERVICE TAX
Cenvat credit — Branch office not registered — Assessee having centralized registration
Refund claim of the assessee was rejected on the ground that services were not rendered from a registered premise. Services were not rendered from a registered branch office. In view of Tribunal decision in Manipal Advertising Services Pvt. Ltd. v. CCE (CESTAT-Bang), when the assessee having centralized billing and accounting system, non-registration of branch office would not come in the way of availment of Cenvat credit ― Nuware Systems Pvt. Ltd. v. CCE (CESTAT-Bang) Stay Order Nos. 515-516/2011, dated 15-6-2011.
Assessee can claim deduction under section 80-IB on year to year basis, in view of the Circular of the CBDT dated 30-6-2009, even though the assessee proposes to construct on the entire extent of land and paid the development charges in this regard. Therefore, where the assessee completed the project in respect of one block, the assessee was eligible for deduction under section 80-IB( 10) of the Act in respect of the same. – Vide Nagarjuna Homes v.Income Tax Officer (2011) 42(II) ITCL 199 (Hyd-Trib)
SERVICE TAX
Cenvat credit — Branch office not registered — Assessee having centralized registration
Refund claim of the assessee was rejected on the ground that services were not rendered from a registered premise. Services were not rendered from a registered branch office. In view of Tribunal decision in Manipal Advertising Services Pvt. Ltd. v. CCE (CESTAT-Bang), when the assessee having centralized billing and accounting system, non-registration of branch office would not come in the way of availment of Cenvat credit ― Nuware Systems Pvt. Ltd. v. CCE (CESTAT-Bang) Stay Order Nos. 515-516/2011, dated 15-6-2011.
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