Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Denial of exemption under section 54F was considered on whether an appellate authority may entertain a deduction not claimed in the original return. Tribunal applied the principle that Goetze restricts assessing officer powers but does not bar appellate authorities from adjudicating legal claims; accordingly the tribunal allowed the appeal for statistical purposes and restored the matter to the assessing officer for de novo verification of statutory conditions (nature and character of assets, timing and quantum of investment, compliance) and directed a speaking order after hearing the assessee.
Denial of exemption under section 54F was considered on whether an appellate authority may entertain a deduction not claimed in the original return. Tribunal applied the principle that Goetze restricts assessing officer powers but does not bar appellate authorities from adjudicating legal claims; accordingly the tribunal allowed the appeal for statistical purposes and restored the matter to the assessing officer for de novo verification of statutory conditions (nature and character of assets, timing and quantum of investment, compliance) and directed a speaking order after hearing the assessee.
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