Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Rule 27 permits a respondent to support the appellate order on an additional ground, and the alleged allotment breach could not justify disallowance in Assessment Year 2011-12 because the Revenue's material related to a later year. On the merits, the Revenue failed to prove breach of the beneficial housing-project deduction condition under section 80IB(10)(f): it relied mainly on a third-party statement, produced no reliable documentary evidence that the flats were really allotted to one person through nominees, and was denied effective cross-examination. The Tribunal treated the statutory condition as requiring cogent proof and sustained deletion of the disallowance; the Revenue's appeal for Assessment Year 2012-13 was rejected on the same reasoning.
Rule 27 permits a respondent to support the appellate order on an additional ground, and the alleged allotment breach could not justify disallowance in Assessment Year 2011-12 because the Revenue's material related to a later year. On the merits, the Revenue failed to prove breach of the beneficial housing-project deduction condition under section 80IB(10)(f): it relied mainly on a third-party statement, produced no reliable documentary evidence that the flats were really allotted to one person through nominees, and was denied effective cross-examination. The Tribunal treated the statutory condition as requiring cogent proof and sustained deletion of the disallowance; the Revenue's appeal for Assessment Year 2012-13 was rejected on the same reasoning.
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