Capital Gain Deductibility: proportionate IPO and PMS expenses held allowable against capital gains where netting and nexus to transfer are establishe...
Admissibility of Documentary Evidence: appellate authority may admit self explanatory documents on first production and uphold deletion of unexplained...
Cancellation of registration was set aside for failure to consider the taxpayer's uploaded reply to the show-cause notice, constituting breach of the principle of natural justice; consequence: the impugned order is quashed. The matter is remitted to the original adjudicating officer for de novo consideration after affording the taxpayer a meaningful opportunity of hearing and by taking into account the explanation and supporting documents already filed, with directions to pass a fresh reasoned order addressing the submitted representation.
Cancellation of registration was set aside for failure to consider the taxpayer's uploaded reply to the show-cause notice, constituting breach of the principle of natural justice; consequence: the impugned order is quashed. The matter is remitted to the original adjudicating officer for de novo consideration after affording the taxpayer a meaningful opportunity of hearing and by taking into account the explanation and supporting documents already filed, with directions to pass a fresh reasoned order addressing the submitted representation.
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