NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Time lost by the assessing officer during search-related handover of books of account is excluded from the 180-day limitation under the relevant provision, but only to the extent that the handover period is included in the original limitation period; consequently the excluded period (1/4/2023-22/8/2023, 144 days) extends the assessment deadline to 22/8/2024. The assessment order dated 27/9/2024 was therefore beyond the extended limitation and is time barred, and the assessee's appeal is allowed.
Time lost by the assessing officer during search-related handover of books of account is excluded from the 180-day limitation under the relevant provision, but only to the extent that the handover period is included in the original limitation period; consequently the excluded period (1/4/2023-22/8/2023, 144 days) extends the assessment deadline to 22/8/2024. The assessment order dated 27/9/2024 was therefore beyond the extended limitation and is time barred, and the assessee's appeal is allowed.
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