Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
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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