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...
An addition to taxable income based on an erroneous entry in the original tax-audit report was unsustainable where the assessee produced evidence of a substantially lower correct figure and the auditor subsequently revised and uploaded a corrected audit report; the appellate finding stressed that the evidentiary weight of an audit report is not absolute and must yield where a demonstrable clerical/figural error has been rectified, and that the first appellate authority's reliance on the uncorrected report was unreasonable. Operative effect: the addition set aside and the Assessing Officer directed to delete the disallowance for the relevant assessment year.
An addition to taxable income based on an erroneous entry in the original tax-audit report was unsustainable where the assessee produced evidence of a substantially lower correct figure and the auditor subsequently revised and uploaded a corrected audit report; the appellate finding stressed that the evidentiary weight of an audit report is not absolute and must yield where a demonstrable clerical/figural error has been rectified, and that the first appellate authority's reliance on the uncorrected report was unreasonable. Operative effect: the addition set aside and the Assessing Officer directed to delete the disallowance for the relevant assessment year.
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