Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
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HC quashed orders rejecting assessee's request for revision u/s 264. Differential value between sale deed and stamp duty valuation exceeded Rs. 50,000, invoking Section 56(2)(vii)(b)(ii). Stamp duty valuation of Rs. 97,69,000 adopted by SRO to be considered for computing income. AO to refer valuation to Valuation Officer if disputed u/s 50C(2). Assessee can raise objections before revisional authority u/s 264 or appellate authority u/s 246A. Cases remitted to AO for fresh adjudication u/s 56(2)(vii)(c) proviso read with Section 50C(2).
HC quashed orders rejecting assessee's request for revision u/s 264. Differential value between sale deed and stamp duty valuation exceeded Rs. 50,000, invoking Section 56(2)(vii)(b)(ii). Stamp duty valuation of Rs. 97,69,000 adopted by SRO to be considered for computing income. AO to refer valuation to Valuation Officer if disputed u/s 50C(2). Assessee can raise objections before revisional authority u/s 264 or appellate authority u/s 246A. Cases remitted to AO for fresh adjudication u/s 56(2)(vii)(c) proviso read with Section 50C(2).
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