Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Section 54 exemption was allowed for investment in more than one residential property, with the Tribunal accepting that the word "a" can encompass more than one house where supported by precedent. It also held that investments made after the due date for filing the income tax return could still be considered for exemption, even if not deposited in the capital gains scheme, and directed the Assessing Officer to allow relief on that basis. The result was that the assessee remained eligible for Section 54 relief on both the multiple-property investment and the delayed investment.
Section 54 exemption was allowed for investment in more than one residential property, with the Tribunal accepting that the word "a" can encompass more than one house where supported by precedent. It also held that investments made after the due date for filing the income tax return could still be considered for exemption, even if not deposited in the capital gains scheme, and directed the Assessing Officer to allow relief on that basis. The result was that the assessee remained eligible for Section 54 relief on both the multiple-property investment and the delayed investment.
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