Post-search scrutiny assessment remains available where original assessment limitation is unexpired, permitting timely completion under regular assess...
Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Section 54EC exemption for long-term capital gains may apply where specified bonds are purchased within six months of transfer across two financial years. For Assessment Year 2013-14, the investment ceiling operated independently for each financial year when the six-month period overlapped them, rather than as a single transaction-wide cap. The later amendment imposing an aggregate cap for the year of transfer and the succeeding financial year did not apply. Accordingly, restricting the exemption to one financial year's ceiling was set aside and the disallowance was deleted.
Section 54EC exemption for long-term capital gains may apply where specified bonds are purchased within six months of transfer across two financial years. For Assessment Year 2013-14, the investment ceiling operated independently for each financial year when the six-month period overlapped them, rather than as a single transaction-wide cap. The later amendment imposing an aggregate cap for the year of transfer and the succeeding financial year did not apply. Accordingly, restricting the exemption to one financial year's ceiling was set aside and the disallowance was deleted.
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