Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Section 264 revision application concerning long-term capital gain (LTCG) on extinguishment of shares due to loss arising from NCLT order. Petitioner's claim for loss on extinguishment of share value not considered in original return. Respondent obligated to consider merits of revision petition within limitation period. High Court followed precedents quashing orders u/s 264 and remanding matters for reconsideration of unclaimed losses. Impugned order quashed, matter remanded to Principal Commissioner to decide revision petition on merits after hearing petitioner.
Section 264 revision application concerning long-term capital gain (LTCG) on extinguishment of shares due to loss arising from NCLT order. Petitioner's claim for loss on extinguishment of share value not considered in original return. Respondent obligated to consider merits of revision petition within limitation period. High Court followed precedents quashing orders u/s 264 and remanding matters for reconsideration of unclaimed losses. Impugned order quashed, matter remanded to Principal Commissioner to decide revision petition on merits after hearing petitioner.
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