Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Rectification is available for a mistake apparent from the record, and the record is not confined to the assessment order or intimation alone. A wrong entry in the return showing mutual fund units as acquired on or after 31.01.2018 could be corrected where supporting material in the assessee's record showed acquisition before that date. The authorities were not justified in refusing rectification merely because the correction would alter total income. The matter was restored for verification of the evidence and recomputation of long-term capital gains on the basis that the units were acquired prior to 31.01.2018.
Rectification is available for a mistake apparent from the record, and the record is not confined to the assessment order or intimation alone. A wrong entry in the return showing mutual fund units as acquired on or after 31.01.2018 could be corrected where supporting material in the assessee's record showed acquisition before that date. The authorities were not justified in refusing rectification merely because the correction would alter total income. The matter was restored for verification of the evidence and recomputation of long-term capital gains on the basis that the units were acquired prior to 31.01.2018.
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