Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Capital gains under section 50C had to be recomputed by adopting the guideline value as on 03.10.2006, since the Tribunal's view in the co-owner's case was held to reflect the correct legal position and to accord with the cited precedent. The valuation adopted by the Assessing Officer and the Departmental Valuation Officer was therefore not sustained. The Court set aside the orders below and directed fresh computation of capital gains on that basis, after giving the assessee a reasonable opportunity of being heard.
Capital gains under section 50C had to be recomputed by adopting the guideline value as on 03.10.2006, since the Tribunal's view in the co-owner's case was held to reflect the correct legal position and to accord with the cited precedent. The valuation adopted by the Assessing Officer and the Departmental Valuation Officer was therefore not sustained. The Court set aside the orders below and directed fresh computation of capital gains on that basis, after giving the assessee a reasonable opportunity of being heard.
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