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 held that ex-parte order violated principles of natural justice by failing to serve show cause notice to the petitioner, thereby denying opportunity of being heard. Strict interpretation of tax statutes mandates procedural compliance, particularly regarding personal hearing requirements. The court emphasized that penal statutes affecting individual rights must be construed narrowly to prevent arbitrary decision-making. Consequently, the impugned order was declared unsustainable, and the petitioner was directed to be afforded a fresh opportunity to present its case before the competent authority.
HC held that ex-parte order violated principles of natural justice by failing to serve show cause notice to the petitioner, thereby denying opportunity of being heard. Strict interpretation of tax statutes mandates procedural compliance, particularly regarding personal hearing requirements. The court emphasized that penal statutes affecting individual rights must be construed narrowly to prevent arbitrary decision-making. Consequently, the impugned order was declared unsustainable, and the petitioner was directed to be afforded a fresh opportunity to present its case before the competent authority.
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