Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
The Tribunal held that the 10% tolerance band under the stamp valuation framework applies retrospectively as a curative measure, so no addition survived where the difference between agreement value and stamp duty value was only 2.3%. It also accepted that indexation of cost for flat allotment rights runs from the date of the agreement, since rights accrued on execution and not from the dates of later instalments, leading to deletion of the recomputed disallowance. For the unexplained investment issue, the Tribunal found factual verification was needed and remanded the matter to the Assessing Officer after granting adequate hearing.
The Tribunal held that the 10% tolerance band under the stamp valuation framework applies retrospectively as a curative measure, so no addition survived where the difference between agreement value and stamp duty value was only 2.3%. It also accepted that indexation of cost for flat allotment rights runs from the date of the agreement, since rights accrued on execution and not from the dates of later instalments, leading to deletion of the recomputed disallowance. For the unexplained investment issue, the Tribunal found factual verification was needed and remanded the matter to the Assessing Officer after granting adequate hearing.
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