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...
Section 80P deduction for interest and dividend income from compulsory, fixed and savings-bank deposits is discussed as available where the deposits are attributable to a credit co-operative society's business of providing credit facilities to members. The note distinguishes investment income treated as business income from the contrary context of investments with co-operative banks. It also addresses reassessment beyond three years, stating that the extended limitation period requires strict satisfaction of statutory conditions and cannot rest on cash-deposit allegations that do not survive; a deduction disallowance alone must meet the applicable threshold. Consequential under-reporting penalty proceedings may require fresh consideration where the underlying assessment is restored.
Section 80P deduction for interest and dividend income from compulsory, fixed and savings-bank deposits is discussed as available where the deposits are attributable to a credit co-operative society's business of providing credit facilities to members. The note distinguishes investment income treated as business income from the contrary context of investments with co-operative banks. It also addresses reassessment beyond three years, stating that the extended limitation period requires strict satisfaction of statutory conditions and cannot rest on cash-deposit allegations that do not survive; a deduction disallowance alone must meet the applicable threshold. Consequential under-reporting penalty proceedings may require fresh consideration where the underlying assessment is restored.
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