Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
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...
Enhancement in reassessment could not bring to tax long-term capital gain from sale of the Manesar property as a new source of income when reopening was confined to unexplained investment in the Panchkula property; the Tribunal held that appellate enhancement does not extend to an altogether new source and deleted the addition. It also held that the Manesar asset was a residential house property, supported by the sale deed, occupation certificate, approved plans and loan records, so indexed cost of construction or improvement was allowable. On the exemption claim, substantial investment in a new residential house within the prescribed period entitled the assessee to deduction under sections 54/54F despite no deposit in the Capital Gain Account Scheme.
Enhancement in reassessment could not bring to tax long-term capital gain from sale of the Manesar property as a new source of income when reopening was confined to unexplained investment in the Panchkula property; the Tribunal held that appellate enhancement does not extend to an altogether new source and deleted the addition. It also held that the Manesar asset was a residential house property, supported by the sale deed, occupation certificate, approved plans and loan records, so indexed cost of construction or improvement was allowable. On the exemption claim, substantial investment in a new residential house within the prescribed period entitled the assessee to deduction under sections 54/54F despite no deposit in the Capital Gain Account Scheme.
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