Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
For charitable trusts, fixed deposits and balances in a scheduled-bank savings account created from capital-asset sale proceeds constitute acquisition of another capital asset for capital-gains exemption under section 11(1A). A bank deposit is a permissible investment mode, and its status as a capital asset does not depend on the deposit duration. Eligibility requires sale proceeds to be invested only in prescribed modes; qualifying fixed deposits and savings balances therefore fall within the exemption.
For charitable trusts, fixed deposits and balances in a scheduled-bank savings account created from capital-asset sale proceeds constitute acquisition of another capital asset for capital-gains exemption under section 11(1A). A bank deposit is a permissible investment mode, and its status as a capital asset does not depend on the deposit duration. Eligibility requires sale proceeds to be invested only in prescribed modes; qualifying fixed deposits and savings balances therefore fall within the exemption.
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