Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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.
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