Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
The High Court set aside the order u/s 119(2)(b) of the Act, finding that the authority took a restrictive and conservative approach in not noticing the Central Board of Direct Taxes (CBDT) circular dated 09.06.2015 regarding condonation of delay up to six years. The matter was remitted back to the authority to reconsider, taking note of the CBDT circular. The authority must take a holistic view and pass appropriate orders expeditiously, as the period sought to be condoned is within six years, and the restriction on non-condonation applies only beyond six years.
The High Court set aside the order u/s 119(2)(b) of the Act, finding that the authority took a restrictive and conservative approach in not noticing the Central Board of Direct Taxes (CBDT) circular dated 09.06.2015 regarding condonation of delay up to six years. The matter was remitted back to the authority to reconsider, taking note of the CBDT circular. The authority must take a holistic view and pass appropriate orders expeditiously, as the period sought to be condoned is within six years, and the restriction on non-condonation applies only beyond six years.
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