Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Set off of brought forward loss against Long Term Capital Gain (LTCG) - AO was of the view that since the LTCL no longer exist in books of account, it cannot be set off consequent to the scheme of arrangement - It has not been brought out on record that by reason of the restructuring the books and the order of the Hon’ble Kerala High Court, the assessee is precluded from utilizing the carryforward LTCL against set off of LTCG in future years as contemplated by section 74 of the Act. - AT
Set off of brought forward loss against Long Term Capital Gain (LTCG) - AO was of the view that since the LTCL no longer exist in books of account, it cannot be set off consequent to the scheme of arrangement - It has not been brought out on record that by reason of the restructuring the books and the order of the Hon’ble Kerala High Court, the assessee is precluded from utilizing the carryforward LTCL against set off of LTCG in future years as contemplated by section 74 of the Act. - AT
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