Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
The Appellate Tribunal addressed two key issues: 1. Denial of cost of improvement in LTCG computation: AO's denial based on absence of improvement reference in sale deed and payment timing after notice issuance. Tribunal upheld CIT(A)'s deletion, noting AO's similar addition in spouse's case and lack of Revenue challenge. 2. Denial of deduction u/s 54: AO's denial due to alleged failure to meet construction deadline. Tribunal affirmed CIT(A)'s finding of asset sale, purchase, and compliance with u/s 54 conditions. Spouse's case comparison showed inconsistency. Tribunal ruled in favor of taxpayer, dismissing Revenue's grounds.
The Appellate Tribunal addressed two key issues: 1. Denial of cost of improvement in LTCG computation: AO's denial based on absence of improvement reference in sale deed and payment timing after notice issuance. Tribunal upheld CIT(A)'s deletion, noting AO's similar addition in spouse's case and lack of Revenue challenge. 2. Denial of deduction u/s 54: AO's denial due to alleged failure to meet construction deadline. Tribunal affirmed CIT(A)'s finding of asset sale, purchase, and compliance with u/s 54 conditions. Spouse's case comparison showed inconsistency. Tribunal ruled in favor of taxpayer, dismissing Revenue's grounds.
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