Attachment of Pre Offence Mortgaged Property remains possible under PMLA; secured creditors may pursue statutory claim and seek auction with undertaki...
Deduction for indexed cost of improvement was allowed in part where documentary proof was incomplete: exercising evaluative discretion, the Tribunal permitted 80% of the improvement cost claimed to be adopted for computing the indexed cost of improvement and directed the assessing officer to recompute and grant the deduction accordingly, setting aside the contrary appellate finding; the Tribunal also condoned the delay in filing the appeal. The operative effect requires the AO to apply 80% of claimed improvement amounts for the specified years and allow corresponding indexed deduction.
Deduction for indexed cost of improvement was allowed in part where documentary proof was incomplete: exercising evaluative discretion, the Tribunal permitted 80% of the improvement cost claimed to be adopted for computing the indexed cost of improvement and directed the assessing officer to recompute and grant the deduction accordingly, setting aside the contrary appellate finding; the Tribunal also condoned the delay in filing the appeal. The operative effect requires the AO to apply 80% of claimed improvement amounts for the specified years and allow corresponding indexed deduction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
