Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Cash deposits in savings bank account treated as long-term capital gains from sale of agricultural land. Assessee claimed income from export-quality rose cultivation with brother, relying on report from agricultural college professor. However, report alone insufficient proof of agricultural income. Assessment order passed ex-parte without assessee's participation. CIT(A) order based on AO's remand report. Matter remanded to AO for fresh assessment after proper opportunity to assessee to substantiate agricultural income claim with supporting evidence. Appeal allowed for statistical purposes.
Cash deposits in savings bank account treated as long-term capital gains from sale of agricultural land. Assessee claimed income from export-quality rose cultivation with brother, relying on report from agricultural college professor. However, report alone insufficient proof of agricultural income. Assessment order passed ex-parte without assessee's participation. CIT(A) order based on AO's remand report. Matter remanded to AO for fresh assessment after proper opportunity to assessee to substantiate agricultural income claim with supporting evidence. Appeal allowed for statistical purposes.
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