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...
CBDT circular timelines require prompt release of seized assets on furnishing adequate security, with special emphasis on jewellery due to valuation volatility; delays beyond the circular's 15 day period are arbitrary if unexplained and cannot prejudice petitioners for market value increases during delay. The note prescribes release of 901.030 grams of jewellery to claimants upon cross affidavits: a non objecting affidavit from one party and ownership affidavits from claimants; other seized items are ordered released against an existing bank guarantee, subject to filing of ownership and no objection affidavits prior to release.
CBDT circular timelines require prompt release of seized assets on furnishing adequate security, with special emphasis on jewellery due to valuation volatility; delays beyond the circular's 15 day period are arbitrary if unexplained and cannot prejudice petitioners for market value increases during delay. The note prescribes release of 901.030 grams of jewellery to claimants upon cross affidavits: a non objecting affidavit from one party and ownership affidavits from claimants; other seized items are ordered released against an existing bank guarantee, subject to filing of ownership and no objection affidavits prior to release.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4813 
Join Channel 
