Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Vacant unsold flats and shops held as stock-in-trade were treated as taxable under the head income from house property on a notional annual letting value basis, with computation required to follow municipal rateable value principles rather than an ad hoc percentage of investment. Unsupported business promotion expenditure was disallowed because no bills, vouchers or other documentary evidence were produced. The addition under section 43CA was deleted for assessment year 2017-18 because the variation between consideration and stamp valuation fell within the applicable tolerance band, which was held to apply retrospectively as a curative measure.
Vacant unsold flats and shops held as stock-in-trade were treated as taxable under the head income from house property on a notional annual letting value basis, with computation required to follow municipal rateable value principles rather than an ad hoc percentage of investment. Unsupported business promotion expenditure was disallowed because no bills, vouchers or other documentary evidence were produced. The addition under section 43CA was deleted for assessment year 2017-18 because the variation between consideration and stamp valuation fell within the applicable tolerance band, which was held to apply retrospectively as a curative measure.
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