Revenue classification: agricultural land treated as capital asset under s.2(14)(iii)(b); consideration fixed at Rs.1,00,44,000; s.54F exemption allow...
Appeal allowed, exemption under section 11 restored for not-for-profit company under section 12A carrying out charitable activities including micro-fi...
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The HC held that the Designated Authority erred in rejecting the petitioner's Form-1 declaration under the DTVSV Scheme, 2024 solely because the related appeal was later held non-maintainable; on the specified date (22.07.2024) the appeal was pending and therefore the declaration could not be rejected as not valid or competent. The court quashed and set aside the impugned communication dated 11.04.2025 and directed the Designated Authority to process the petitioner's Form-1 declaration in accordance with the Scheme, observing that a subsequent finding of non-maintainability does not negate the appeal's pending status on the material date.
The HC held that the Designated Authority erred in rejecting the petitioner's Form-1 declaration under the DTVSV Scheme, 2024 solely because the related appeal was later held non-maintainable; on the specified date (22.07.2024) the appeal was pending and therefore the declaration could not be rejected as not valid or competent. The court quashed and set aside the impugned communication dated 11.04.2025 and directed the Designated Authority to process the petitioner's Form-1 declaration in accordance with the Scheme, observing that a subsequent finding of non-maintainability does not negate the appeal's pending status on the material date.
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