Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The text examines provisional attachment under Section 83 and Rule 159(5), emphasising that attachment is a draconian revenue-protection power requiring formation of an opinion and due deliberation. It notes Rule 159(5) grants the attached person the right to file objections and to be heard, and that the Commissioner must pass a reasoned order accepting or rejecting objections. Where attachment orders and rejection orders lack recorded reasons and show non-application of mind, they cannot stand; the attachment orders were quashed and the matter remitted for fresh hearing and a reasoned decision.
The text examines provisional attachment under Section 83 and Rule 159(5), emphasising that attachment is a draconian revenue-protection power requiring formation of an opinion and due deliberation. It notes Rule 159(5) grants the attached person the right to file objections and to be heard, and that the Commissioner must pass a reasoned order accepting or rejecting objections. Where attachment orders and rejection orders lack recorded reasons and show non-application of mind, they cannot stand; the attachment orders were quashed and the matter remitted for fresh hearing and a reasoned decision.
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