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...
Invocation by legal notice was held sufficient to sustain a guarantee invocation application, and the Adjudicating Authority's rejection for lack of a demand notice was quashed. The interim moratorium principle was applied to commence from filing of the guarantee invocation application, so defects alleged by the auction purchaser did not prevent moratorium. Documentary shortfalls (income-tax returns) were found not to render the petition defective, and the petition was reinstated. The Adjudicating Authority was directed to exercise jurisdiction and pass fresh orders under the revival provision without delay.
Invocation by legal notice was held sufficient to sustain a guarantee invocation application, and the Adjudicating Authority's rejection for lack of a demand notice was quashed. The interim moratorium principle was applied to commence from filing of the guarantee invocation application, so defects alleged by the auction purchaser did not prevent moratorium. Documentary shortfalls (income-tax returns) were found not to render the petition defective, and the petition was reinstated. The Adjudicating Authority was directed to exercise jurisdiction and pass fresh orders under the revival provision without delay.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
