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...
The note addresses valuation and disallowance issues: an allotment letter accompanied by part payment through prescribed banking channels can constitute the agreement fixing consideration for comparing actual sale consideration with Stamp Duty Valuation, and the tax authority was directed to verify receipt dates and compare SDV as of allotment; separate disallowances under the rule limiting deduction for exempt-income-related expenditure are unsustainable where no exempt income was earned, and similar 14A additions cannot be made in computing book profit, leading to deletions of those adjustments and remittance of the 43CA factual verification to the assessing officer.
The note addresses valuation and disallowance issues: an allotment letter accompanied by part payment through prescribed banking channels can constitute the agreement fixing consideration for comparing actual sale consideration with Stamp Duty Valuation, and the tax authority was directed to verify receipt dates and compare SDV as of allotment; separate disallowances under the rule limiting deduction for exempt-income-related expenditure are unsustainable where no exempt income was earned, and similar 14A additions cannot be made in computing book profit, leading to deletions of those adjustments and remittance of the 43CA factual verification to the assessing officer.
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