Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Capital gain computation under a joint development agreement was considered with two principal issues: whether deduction for indexed cost of acquisition of land is allowable where land rights were exchanged for constructed area, and whether deduction for cost of construction is allowable though no monetary investment was made by the assessee. The tribunal applied the rule that expenditure wholly and exclusively incurred in connection with transfer and cost of acquisition and improvement must be allowed, concluding the assessee retained compensable rights and was entitled in principle to deductions for indexed acquisition and construction costs; both issues were remitted to the AO for factual verification and quantification with admission of additional evidence.
Capital gain computation under a joint development agreement was considered with two principal issues: whether deduction for indexed cost of acquisition of land is allowable where land rights were exchanged for constructed area, and whether deduction for cost of construction is allowable though no monetary investment was made by the assessee. The tribunal applied the rule that expenditure wholly and exclusively incurred in connection with transfer and cost of acquisition and improvement must be allowed, concluding the assessee retained compensable rights and was entitled in principle to deductions for indexed acquisition and construction costs; both issues were remitted to the AO for factual verification and quantification with admission of additional evidence.
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