Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
Limited scrutiny cannot be expanded into complete scrutiny without the written approval mandated by CBDT Instruction No. 7/2014; the Tribunal found that the assessment was enlarged beyond the original capital gains issue without such approval, so the assessment was quashed. Section 69A was not barred merely because the share acquisition transactions related to time-barred years, as the Tribunal treated the deeming fiction as sufficient to permit enquiry. For section 54F, exemption cannot be denied solely because the residential property was not conveyed by a registered sale deed; where purchase and investment within the statutory period were shown, the denial was unsustainable. The appeal was allowed.
Limited scrutiny cannot be expanded into complete scrutiny without the written approval mandated by CBDT Instruction No. 7/2014; the Tribunal found that the assessment was enlarged beyond the original capital gains issue without such approval, so the assessment was quashed. Section 69A was not barred merely because the share acquisition transactions related to time-barred years, as the Tribunal treated the deeming fiction as sufficient to permit enquiry. For section 54F, exemption cannot be denied solely because the residential property was not conveyed by a registered sale deed; where purchase and investment within the statutory period were shown, the denial was unsustainable. The appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
