Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
ITAT allowed Revenue's appeal for statistical purposes in short-term capital gains dispute. Assessee sold land, and CIT(A)/NFAC directed AO to compute capital gains by deducting fair market value from sale consideration. ITAT held that when actual cost of asset is available, fair market value deduction is inappropriate for determining capital gains. However, since AO's order was ex-parte and treatment of other co-owners remained unclear, ITAT restored matter to AO for fresh determination. AO directed to decide issue afresh after providing due hearing opportunity to assessee, considering treatment of other co-partners, and allowing assessee to substantiate case with requisite details in accordance with law.
ITAT allowed Revenue's appeal for statistical purposes in short-term capital gains dispute. Assessee sold land, and CIT(A)/NFAC directed AO to compute capital gains by deducting fair market value from sale consideration. ITAT held that when actual cost of asset is available, fair market value deduction is inappropriate for determining capital gains. However, since AO's order was ex-parte and treatment of other co-owners remained unclear, ITAT restored matter to AO for fresh determination. AO directed to decide issue afresh after providing due hearing opportunity to assessee, considering treatment of other co-partners, and allowing assessee to substantiate case with requisite details in accordance with law.
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