Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
The ITAT set aside the enhancement order issued by CIT(A) under s.251(2) regarding LTCG and denial of s.54F deduction on sale of gold, ornaments, and silver utensils. The Tribunal held that s.251(2) provisions are mandatory, requiring reasonable opportunity of show cause before enhancement, relying on precedents from SC and other ITAT benches. Despite Revenue's contention that the appellant had failed to appear when the case was called and opportunities were granted, the Tribunal determined that sufficient opportunity was not provided before enhancement. The matter was remanded for fresh adjudication on merits after providing fair opportunity of hearing to the assessee.
The ITAT set aside the enhancement order issued by CIT(A) under s.251(2) regarding LTCG and denial of s.54F deduction on sale of gold, ornaments, and silver utensils. The Tribunal held that s.251(2) provisions are mandatory, requiring reasonable opportunity of show cause before enhancement, relying on precedents from SC and other ITAT benches. Despite Revenue's contention that the appellant had failed to appear when the case was called and opportunities were granted, the Tribunal determined that sufficient opportunity was not provided before enhancement. The matter was remanded for fresh adjudication on merits after providing fair opportunity of hearing to the assessee.
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