Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
Disallowance of construction cost for capital gains was overturned where the assessee produced the contractor's confirmation, a cost breakup, identity documents and an income-tax return evidencing the contractor's involvement; the AO had not doubted the work but made an ad hoc 50% reduction without identifying any cogent defect in the contractor's confirmation or the breakup. The Tribunal held that the contractor's confirmation and supporting particulars carried evidentiary weight and could not be summarily disregarded, and accordingly deleted the addition arising from the 50% disallowance.
Disallowance of construction cost for capital gains was overturned where the assessee produced the contractor's confirmation, a cost breakup, identity documents and an income-tax return evidencing the contractor's involvement; the AO had not doubted the work but made an ad hoc 50% reduction without identifying any cogent defect in the contractor's confirmation or the breakup. The Tribunal held that the contractor's confirmation and supporting particulars carried evidentiary weight and could not be summarily disregarded, and accordingly deleted the addition arising from the 50% disallowance.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
