Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Addition on Account of LTCG u/s 50C - The appellant contended that the property was a litigated property, and thus not possible to sell at market rate, arguing that the provisions of section 50C should not apply. The appellant also highlighted that the difference between the valuation adopted by the Stamp Valuation Authority and that declared by the appellant was less than 10%, suggesting that the value declared by the appellant should be accepted. The ITAT, referring to a similar case involving Bhojison Infrastructure Pvt. Ltd., where the tribunal allowed the appeal favoring the appellant, found that the appellant's case was directly covered by this decision.
Addition on Account of LTCG u/s 50C - The appellant contended that the property was a litigated property, and thus not possible to sell at market rate, arguing that the provisions of section 50C should not apply. The appellant also highlighted that the difference between the valuation adopted by the Stamp Valuation Authority and that declared by the appellant was less than 10%, suggesting that the value declared by the appellant should be accepted. The ITAT, referring to a similar case involving Bhojison Infrastructure Pvt. Ltd., where the tribunal allowed the appeal favoring the appellant, found that the appellant's case was directly covered by this decision.
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