Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
For charitable income, Explanation 2(ii)(b) to section 11(1) operated as a mechanism distinct from accumulation under section 11(2): the assessee claimed only deemed application in the immediately succeeding year, not long-term accumulation. The Tribunal held that, for A.Y. 2015-16, a written option within the time allowed under section 139(1) was sufficient; the later Form No. 9A requirement could not be applied retrospectively. Disclosure in the return and furnishing of reasons before completion of assessment satisfied the statutory condition, so the disallowance of deemed application and the consequential denial of exemption were unsustainable.
For charitable income, Explanation 2(ii)(b) to section 11(1) operated as a mechanism distinct from accumulation under section 11(2): the assessee claimed only deemed application in the immediately succeeding year, not long-term accumulation. The Tribunal held that, for A.Y. 2015-16, a written option within the time allowed under section 139(1) was sufficient; the later Form No. 9A requirement could not be applied retrospectively. Disclosure in the return and furnishing of reasons before completion of assessment satisfied the statutory condition, so the disallowance of deemed application and the consequential denial of exemption were unsustainable.
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