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...
Estate income administered by a sole executor falls under Section 168(1)(a) and must be assessed as if the executor were an individual. The maximum marginal rate applicable to an association of persons cannot be imposed merely by characterising the estate as an artificial juridical person. Verification of the testament and will is necessary to establish whether a sole executor administered the estate. On such verification, estate income is assessable at individual slab rates; the assessment was remitted to the Assessing Officer for this limited purpose.
Estate income administered by a sole executor falls under Section 168(1)(a) and must be assessed as if the executor were an individual. The maximum marginal rate applicable to an association of persons cannot be imposed merely by characterising the estate as an artificial juridical person. Verification of the testament and will is necessary to establish whether a sole executor administered the estate. On such verification, estate income is assessable at individual slab rates; the assessment was remitted to the Assessing Officer for this limited purpose.
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