Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
For AY 2009-10, the pre-amendment position on reference to a Valuation Officer governed the computation of capital gains. Where the assessee adopted the fair market value of the property as on 01.04.1981 on the basis of a registered valuer's report, the Assessing Officer had no authority to make a reference merely to reduce that value. On that footing, the Valuation Officer's report was held irrelevant for recomputing long-term capital gains, and the resulting addition was deleted. The alternate contention on tolerance in sale consideration was not examined because the primary issue was ative.
For AY 2009-10, the pre-amendment position on reference to a Valuation Officer governed the computation of capital gains. Where the assessee adopted the fair market value of the property as on 01.04.1981 on the basis of a registered valuer's report, the Assessing Officer had no authority to make a reference merely to reduce that value. On that footing, the Valuation Officer's report was held irrelevant for recomputing long-term capital gains, and the resulting addition was deleted. The alternate contention on tolerance in sale consideration was not examined because the primary issue was ative.
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