Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
Section 10(26) exemption for a Scheduled Tribe assessee is not automatic; it applies only when the statutory conditions coexist, including that the salary income accrues or arises from a source situated in the notified area. Salary generally accrues where the services are performed, so the employer's office location is not decisive. On the record produced, the employer's certificate only showed current work-from-home status and did not establish that the assessee worked from Meghalaya for the full relevant year, while the employment terms were not produced. The Tribunal therefore remanded the exemption claim to the Assessing Officer for fresh consideration.
Section 10(26) exemption for a Scheduled Tribe assessee is not automatic; it applies only when the statutory conditions coexist, including that the salary income accrues or arises from a source situated in the notified area. Salary generally accrues where the services are performed, so the employer's office location is not decisive. On the record produced, the employer's certificate only showed current work-from-home status and did not establish that the assessee worked from Meghalaya for the full relevant year, while the employment terms were not produced. The Tribunal therefore remanded the exemption claim to the Assessing Officer for fresh consideration.
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