GUIYANG - The Guiyang big data exchange, China's first of its kind, has seen its cumulative transaction value exceeding 5.4 billion yuan since its inception. This achievement was announced during the ongoing China International Big Data Industry Expo in Guiyang. Often dubbed China's big data hub, the mountainous province of Guizhou is China's first national big data comprehensive pilot zone. …
The Pune Bench of the Income Tax Appellate Tribunal has allowed the income tax exemption under Section 54B even when the land was cultivated only for a few days during the relevant years.The two-member bench of S.S. Vishwanethra Ravi and Inturi Rama Rao has observed that part of the land could not be used for agricultural purposes but grass was. …
The Pune Bench of theIncome Tax Appellate Tribunal, consisting of Satbeer Singh Godara and Dipak P. Ripote, has ruled that the legislature has nowhere incorporated that for claiming the deduction under section 54B of the Income Tax Act, the lands re-purchased have to be agricultural on the date of re-investment. The ITAT noted that the reinvestment clause in section 54B …
