Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Where an assessee disputes stamp-duty valuation under section 56(2)(x), distinguishes the valuation of different portions of the property, and requests a reference to the Departmental Valuation Officer, the Assessing Officer must make that reference before adopting the stamp-duty value. The basement and ground floor could not be valued on the same basis without addressing the assessee's objections through a reasoned finding. Adoption of the stamp-duty valuation without a valuation reference was therefore unjustified, and the addition for the difference between declared purchase consideration and stamp-duty value was deleted to the assessee's share.
Where an assessee disputes stamp-duty valuation under section 56(2)(x), distinguishes the valuation of different portions of the property, and requests a reference to the Departmental Valuation Officer, the Assessing Officer must make that reference before adopting the stamp-duty value. The basement and ground floor could not be valued on the same basis without addressing the assessee's objections through a reasoned finding. Adoption of the stamp-duty valuation without a valuation reference was therefore unjustified, and the addition for the difference between declared purchase consideration and stamp-duty value was deleted to the assessee's share.
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