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...
Validity of a final assessment under section 144C(13) hinges on the applicable limitation period, and the article explains that limitation must be determined by reading section 144C with section 153 together because both provisions overlap and are interdependent. Following precedent from a High Court and an ITAT decision, the note records that a final assessment for the specified year was treated as timebarred when limitation under section 153 read with section 144C was applied, resulting in quashing of the order, while parties retain liberty to revive the appeal pending the Supreme Court largerbench decision on the issue.
Validity of a final assessment under section 144C(13) hinges on the applicable limitation period, and the article explains that limitation must be determined by reading section 144C with section 153 together because both provisions overlap and are interdependent. Following precedent from a High Court and an ITAT decision, the note records that a final assessment for the specified year was treated as timebarred when limitation under section 153 read with section 144C was applied, resulting in quashing of the order, while parties retain liberty to revive the appeal pending the Supreme Court largerbench decision on the issue.
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