Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
HC found merit in petitioner's challenge regarding violation of natural justice principles and non-application of mind in the impugned orders. Court directed petitioner to deposit 10% of disputed tax amount within four weeks from order receipt, as mutually agreed by both parties' counsel. The impugned orders dated 24.08.2024 and 07.12.2024 were set aside. Matter remanded back to adjudicating authority, granting petitioner final opportunity to present objections. Petition disposed of with these directions, ensuring procedural fairness while safeguarding revenue interests through partial tax deposit requirement.
HC found merit in petitioner's challenge regarding violation of natural justice principles and non-application of mind in the impugned orders. Court directed petitioner to deposit 10% of disputed tax amount within four weeks from order receipt, as mutually agreed by both parties' counsel. The impugned orders dated 24.08.2024 and 07.12.2024 were set aside. Matter remanded back to adjudicating authority, granting petitioner final opportunity to present objections. Petition disposed of with these directions, ensuring procedural fairness while safeguarding revenue interests through partial tax deposit requirement.
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