Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
Determination of acquisition year for Long-Term Capital Gains hinges on transfer effected by handing over possession in part performance; registration date does not shift the year of acquisition once possession and consideration were transferred, so the FY 1996-97 Cost Inflation Index applies. The tribunal rejects need for independent third party corroboration where no adverse material exists and accords evidentiary weight to the registered document. On deduction of construction cost, the tribunal applied the principle of consistency and parity among similarly placed co owners, directing that construction and improvement costs accepted in co owners' cases be allowed mutatis mutandis to the assessee.
Determination of acquisition year for Long-Term Capital Gains hinges on transfer effected by handing over possession in part performance; registration date does not shift the year of acquisition once possession and consideration were transferred, so the FY 1996-97 Cost Inflation Index applies. The tribunal rejects need for independent third party corroboration where no adverse material exists and accords evidentiary weight to the registered document. On deduction of construction cost, the tribunal applied the principle of consistency and parity among similarly placed co owners, directing that construction and improvement costs accepted in co owners' cases be allowed mutatis mutandis to the assessee.
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