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 issue concerns whether an Assessing Officer may rely on a Valuation Officer (DVO) report delivered after the six month deadline in section 142A(6) to invoke the exclusion period under Explanation 1(v) to section 153 and thereby extend limitation. The HC agreed with the Tribunal that section 142A(6) requires the report within six months and that the exclusion-period and its proviso apply only where the report falls within that regime; a belated DVO report has no legal value to extend limitation, and the Principal Commissioner was not justified in revising the assessment under revision powers. Revenue appeal dismissed.
The issue concerns whether an Assessing Officer may rely on a Valuation Officer (DVO) report delivered after the six month deadline in section 142A(6) to invoke the exclusion period under Explanation 1(v) to section 153 and thereby extend limitation. The HC agreed with the Tribunal that section 142A(6) requires the report within six months and that the exclusion-period and its proviso apply only where the report falls within that regime; a belated DVO report has no legal value to extend limitation, and the Principal Commissioner was not justified in revising the assessment under revision powers. Revenue appeal dismissed.
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