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 ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Exemption u/s 54 / 54F - While section 54 of the Act deals with capital gains arising out of transfer of buildings or lands appurtenant thereto and being residential house, section 54F of the Act deals with capital gain arising out of transfer of any long term capital asset not being a residential house. Otherwise, in all other aspects of the matter, the two provisions namely sections 54 and 54F are in pari materia. Therefore, the interpretation of 'a residential house' occurring in section 54F cannot be any different for the same phrase 'a residential house' occurring under section 54 of Act. In this regard what applies to section 54F would apply in equal and full force to section 54 also. - AT
Exemption u/s 54 / 54F - While section 54 of the Act deals with capital gains arising out of transfer of buildings or lands appurtenant thereto and being residential house, section 54F of the Act deals with capital gain arising out of transfer of any long term capital asset not being a residential house. Otherwise, in all other aspects of the matter, the two provisions namely sections 54 and 54F are in pari materia. Therefore, the interpretation of 'a residential house' occurring in section 54F cannot be any different for the same phrase 'a residential house' occurring under section 54 of Act. In this regard what applies to section 54F would apply in equal and full force to section 54 also. - AT
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