Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Section 54 capital-gains exemption remains available where capital gains are invested in a new residential house within the prescribed period, even if the unutilised amount was not deposited in the Capital Gains Account Scheme before the return-filing due date. Treating section 54 as a beneficial provision, the Tribunal regarded the deposit requirement as procedural where the substantive investment condition was met. The taxpayer's share in the jointly acquired property exceeded the capital gain and the purchase occurred before the extended return-filing due date. Accordingly, the section 54 deduction was allowed and the disallowance was deleted.
Section 54 capital-gains exemption remains available where capital gains are invested in a new residential house within the prescribed period, even if the unutilised amount was not deposited in the Capital Gains Account Scheme before the return-filing due date. Treating section 54 as a beneficial provision, the Tribunal regarded the deposit requirement as procedural where the substantive investment condition was met. The taxpayer's share in the jointly acquired property exceeded the capital gain and the purchase occurred before the extended return-filing due date. Accordingly, the section 54 deduction was allowed and the disallowance was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4813 
Join Channel 
