Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
Customs jurisdiction defined for Principal Commissioner, Vishakhapatnam, covering specified ports, districts and India's adjacent EEZ; effective on pu...
The Tribunal remanded the interest disallowance linked to short-term capital gains because the assessee's additional evidence on loan utilisation had not been verified by the lower authorities, and the claim required factual examination before a fresh decision. The tax rate applicable to short-term capital gains from listed securities was also sent back, as it depended on the outcome of the primary computation issue. The section 80E deduction claim was similarly restored because supporting education-loan documents were produced at the appellate stage and had to be examined against the statutory requirements. The appeal was thus allowed for statistical purposes.
The Tribunal remanded the interest disallowance linked to short-term capital gains because the assessee's additional evidence on loan utilisation had not been verified by the lower authorities, and the claim required factual examination before a fresh decision. The tax rate applicable to short-term capital gains from listed securities was also sent back, as it depended on the outcome of the primary computation issue. The section 80E deduction claim was similarly restored because supporting education-loan documents were produced at the appellate stage and had to be examined against the statutory requirements. The appeal was thus allowed for statistical purposes.
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