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...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
LTCG - denial of a claim of exemption u/s 54 - new residential house property was purchased only after the lapse of two years from the sale of original property - The Tribunal found that the assessee had deposited the entire sale consideration in the Capital Gains Scheme Account before the due date for filing the return of income. Consequently, the Tribunal held that the assessee complied with the provisions of Section 54(2) of the Act. - Regarding the purchase of the new residential property, the Tribunal observed that the property bought by the assessee was an under-construction flat, for which the occupation certificate was awaited. As a result, they directed further examination to determine if the extended period of three years for construction as provided under Section 54 of the Act applied in this case.
LTCG - denial of a claim of exemption u/s 54 - new residential house property was purchased only after the lapse of two years from the sale of original property - The Tribunal found that the assessee had deposited the entire sale consideration in the Capital Gains Scheme Account before the due date for filing the return of income. Consequently, the Tribunal held that the assessee complied with the provisions of Section 54(2) of the Act. - Regarding the purchase of the new residential property, the Tribunal observed that the property bought by the assessee was an under-construction flat, for which the occupation certificate was awaited. As a result, they directed further examination to determine if the extended period of three years for construction as provided under Section 54 of the Act applied in this case.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
