ITC on Immovable Property: Section 17(5) Valid, Building as Plant Requires Factual Inquiry
ITC on Immovable Property: Section 17(5) Valid, Building as Plant Requires Factual Inquiry Summary in Key Points: Issue 1: Constitutional Validity of Section 17(5)(c) and (d) Are clauses (c) and (d) of Section 17(5), which restrict ITC on immovable property, constitutionally valid? Decision: Yes, they are valid. The legislature can carve out exceptions to ITC… Read More »