Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
Capital gains on sale of office premises determined as long-term capital gains (LTCG) eligible for exemption u/s 54F. The date of allotment when the right to own the flat accrued through the letter of allotment issued by the builder, creating a contractual right in personam in favor of the assessee, is considered the relevant date for determining the nature of the capital asset. The assessee made payments as required under the allotment letter, subsequently registering the agreement to sell. Based on these facts, the sale is treated as a long-term capital asset, entitling the assessee to claim deduction u/s 54F, subject to fulfilling requisite conditions. The addition made by the lower authorities is deleted, and the assessee's claim for LTCG is restored. The Assessing Officer is directed to examine the applicability of Section 54F and allow the claim accordingly.
Capital gains on sale of office premises determined as long-term capital gains (LTCG) eligible for exemption u/s 54F. The date of allotment when the right to own the flat accrued through the letter of allotment issued by the builder, creating a contractual right in personam in favor of the assessee, is considered the relevant date for determining the nature of the capital asset. The assessee made payments as required under the allotment letter, subsequently registering the agreement to sell. Based on these facts, the sale is treated as a long-term capital asset, entitling the assessee to claim deduction u/s 54F, subject to fulfilling requisite conditions. The addition made by the lower authorities is deleted, and the assessee's claim for LTCG is restored. The Assessing Officer is directed to examine the applicability of Section 54F and allow the claim accordingly.
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