Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
The dominant issue was whether the ITAT has jurisdiction under s. 254 to stay the operation of an order under appeal even when no subsisting tax demand exists. Relying on settled law that an appellate forum possesses incidental and ancillary powers necessary to make its appellate jurisdiction effective, including grant of stay even absent an express statutory provision, the view that stay can be entertained only if a tax demand has arisen was held legally unsustainable. Consequently, the impugned order refusing to entertain the stay application for lack of jurisdiction was set aside and the matter was remitted for fresh consideration of the stay application during pendency of the appeal. - HC
The dominant issue was whether the ITAT has jurisdiction under s. 254 to stay the operation of an order under appeal even when no subsisting tax demand exists. Relying on settled law that an appellate forum possesses incidental and ancillary powers necessary to make its appellate jurisdiction effective, including grant of stay even absent an express statutory provision, the view that stay can be entertained only if a tax demand has arisen was held legally unsustainable. Consequently, the impugned order refusing to entertain the stay application for lack of jurisdiction was set aside and the matter was remitted for fresh consideration of the stay application during pendency of the appeal. - HC
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