Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate auth...
Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
Capital gains on transfers of old immovable properties should not be computed by mechanically treating acquisition cost as nil merely because historical records are incomplete. Statutory deductions for acquisition, improvement and transfer expenditure remain relevant, and fair market value at the statutory base date may be used where applicable. Reverse indexation or a time-gap method may help estimate historical value, subject to verification of guidance value, locality, property characteristics, inflation index, enhancement and calculations; the correct cost and capital gains must then be recomputed. Interest under section 234A is compensatory and cannot apply to delay that is not legally attributable to the taxpayer. Where no valid return could legally be filed before reassessment notice, that intervening period should be excluded under lex non cogit ad impossibilia.
Capital gains on transfers of old immovable properties should not be computed by mechanically treating acquisition cost as nil merely because historical records are incomplete. Statutory deductions for acquisition, improvement and transfer expenditure remain relevant, and fair market value at the statutory base date may be used where applicable. Reverse indexation or a time-gap method may help estimate historical value, subject to verification of guidance value, locality, property characteristics, inflation index, enhancement and calculations; the correct cost and capital gains must then be recomputed. Interest under section 234A is compensatory and cannot apply to delay that is not legally attributable to the taxpayer. Where no valid return could legally be filed before reassessment notice, that intervening period should be excluded under lex non cogit ad impossibilia.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
