Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Regarding long-term capital gain determination, indexed cost of acquisition claimed by assessee at Rs. 45 lakhs for property valued over Rs. 45 lakhs, evidenced by payment through cheques, held acceptable for indexation benefit computation. Addition of Rs. 33,73,120 towards long-term capital gain directed to be deleted. Concerning denial of benefit of carry forward of capital loss, despite setting off long-term capital gain against long-term capital loss as per DRP direction, assessee held entitled to avail carry forward of remaining long-term capital loss. Assessing Officer directed to verify factually and allow carry forward of long-term capital loss claimed.
Regarding long-term capital gain determination, indexed cost of acquisition claimed by assessee at Rs. 45 lakhs for property valued over Rs. 45 lakhs, evidenced by payment through cheques, held acceptable for indexation benefit computation. Addition of Rs. 33,73,120 towards long-term capital gain directed to be deleted. Concerning denial of benefit of carry forward of capital loss, despite setting off long-term capital gain against long-term capital loss as per DRP direction, assessee held entitled to avail carry forward of remaining long-term capital loss. Assessing Officer directed to verify factually and allow carry forward of long-term capital loss claimed.
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