LPG Conversion Kits are classifiable under HSN 8409 99 90 and the same are covered under Serial No. 116 of Schedule IV to the Notification No. 01/2017-Central Tax (Rate), dt. 28-6-2017 and, hence liable to tax at the rate of 14 per cent.

Since earning of rental income was the exclusive or predominant business of assessee, income earned by way of lease money or rentals by letting out of the property could not be taxed under the Head Income from house property, but had to be taxed as business income.

Salary paid to the partner who was partner in his representative capacity as Karta of HUF could not be considered as payment to HUF but to Karta as an individual and since Karta of HUF was a working partner, therefore, remuneration paid to him was allowable.

LPG Conversion Kits are classifiable under HSN 8409 99 90 and the same are covered under Serial No. 116 of Schedule IV to the Notification No. 01/2017-Central Tax (Rate), dt. 28-6-2017 and, hence liable to tax at the rate of 14 per cent.

Acquisition of property by means of perpetual lease exceeding twelve years, would be construed as acquisition of property/purchase of property within the meaning of section 54F. Hence, the assessee would be entitled for exemption under section 54F.

Though AO had mentioned that approval was accorded by Pr. CIT on 24-11-2016 and consequently he had initiated proceedings of complete scrutiny by issuing notice dated 25-11-2016, however, said approval of Pr. CIT was communicated to AO only on 29-11-2016. Thus, it was apparent that AO had initiated proceedings for fully/complete/comprehensive scrutiny, prior to receipt of approval accorded by Pr. CIT in anticipation of approval to be accorded by the Pr. CIT and since at the time of initiating complete scrutiny, the issue under limited scrutiny was not pending with AO as he was satisfied with reply and documentary evidence on the said issue. Disallowance of deduction under section 54B prior to necessary approval communicated to AO was not sustainable.

Section 54 was amended to specifically include the word “in India” in respect of the residential house acquired out of the long-term capital gain earned by assessee. The said, amendment is prospective and would not apply in the facts of present case since assessee sold residential property in India and earned long-term capital gain in the assessment year 2012-13 and invested the said gain in the same year for purchase of the property outside India, therefore, appeal of Revenue was dismissed.

Even though the Statute prescribes a time limit for getting relief before AO by way of filing a revised return, however, there is no embargo on the CIT to exercise his power and grant the relief under section 264, if such revisional power is sought to be invoked at the instance of assessee by making an application under section 264. Accordingly, order of CIT rejecting application under section 264 was set aside and matter was remitted back to CIT for considering the claim of assessee and pass appropriate order.

Supply of medicines, implants and consumables are natural bundled with the supply of health services. In the instant case, supply of health services is the principal supply as that is the reason the inpatients get admitted to hospital instead of buying the medicines or consumable and using on themselves. Therefore, supply of medicines, consumables and implants to in-patients in the course of their treatment is a composite supply of health services.

Although initially assessee purchased a land with a view to put up construction over the same but later changed his mind and instead purchased a residential house, the same could not debar the assessee from claiming benefit of deduction under section 54.