Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Condonation of delay in the Revenue's income-tax appeal depends on whether sufficient cause is shown through a bona fide and adequately explained process, rather than on the length of delay alone. Departmental scrutiny, approvals, record collection and preparation of the appeal memorandum may constitute sufficient cause where the explanation is not specifically denied or shown to be non-existent. Handwritten dates in an otherwise standard-form delay application do not by themselves establish that the explanation is stereotyped or unreliable when the application materially accounts for the delay. On these facts, the departmental procedural delay was treated as bona fide, the delay was condoned, and the appeal was directed for admission processing.
Condonation of delay in the Revenue's income-tax appeal depends on whether sufficient cause is shown through a bona fide and adequately explained process, rather than on the length of delay alone. Departmental scrutiny, approvals, record collection and preparation of the appeal memorandum may constitute sufficient cause where the explanation is not specifically denied or shown to be non-existent. Handwritten dates in an otherwise standard-form delay application do not by themselves establish that the explanation is stereotyped or unreliable when the application materially accounts for the delay. On these facts, the departmental procedural delay was treated as bona fide, the delay was condoned, and the appeal was directed for admission processing.
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