Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
Derivative option losses claimed through a recognised exchange and registered broker require independent proof of genuineness where investigation material indicates manipulated transactions. Contract notes and banking-channel payments alone were insufficient in light of broker admissions, options acquired shortly before expiry and allowed to lapse, and repeated losses; the taxpayer did not rebut this material, so the loss disallowance was sustained. Jurisdictional objections to reassessment, raised specifically before the Tribunal and requiring factual verification, were admitted but remanded to the appellate authority for detailed adjudication. The appeal was partly allowed for statistical purposes.
Derivative option losses claimed through a recognised exchange and registered broker require independent proof of genuineness where investigation material indicates manipulated transactions. Contract notes and banking-channel payments alone were insufficient in light of broker admissions, options acquired shortly before expiry and allowed to lapse, and repeated losses; the taxpayer did not rebut this material, so the loss disallowance was sustained. Jurisdictional objections to reassessment, raised specifically before the Tribunal and requiring factual verification, were admitted but remanded to the appellate authority for detailed adjudication. The appeal was partly allowed for statistical purposes.
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