Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
The ITAT upheld the CIT(A)'s decision granting the assessee exemption under section 54B on long-term capital gains arising from the sale of residential land classified as agricultural land, evidenced by its use for crop cultivation for over two years prior to transfer. The tribunal accepted the English translation of the original regional language document as accurate. The assessee's reinvestment of the sale proceeds into agricultural land qualified for section 54B relief. Consequently, the appeal filed by the revenue was dismissed for lack of merit, confirming the assessee's entitlement to the exemption under section 54B in respect of capital gains under section 45.
The ITAT upheld the CIT(A)'s decision granting the assessee exemption under section 54B on long-term capital gains arising from the sale of residential land classified as agricultural land, evidenced by its use for crop cultivation for over two years prior to transfer. The tribunal accepted the English translation of the original regional language document as accurate. The assessee's reinvestment of the sale proceeds into agricultural land qualified for section 54B relief. Consequently, the appeal filed by the revenue was dismissed for lack of merit, confirming the assessee's entitlement to the exemption under section 54B in respect of capital gains under section 45.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
