Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
Where reassessment was initiated on the taxability of notional annual letting value of unsold flats, the Assessing Officer was required to make a focused enquiry and record a finding on that very issue. The reassessment order contained only a mechanical recital of notices and replies, with no verification, analysis or adjudication of the escapement question. Mere issue of notice did not show application of mind, and the defect was treated as a complete lack of enquiry rather than a mere inadequate enquiry. The section 263 revision was therefore upheld as the order was erroneous and prejudicial to the interests of the revenue, while the merits of the proposed addition were left open for fresh examination.
Where reassessment was initiated on the taxability of notional annual letting value of unsold flats, the Assessing Officer was required to make a focused enquiry and record a finding on that very issue. The reassessment order contained only a mechanical recital of notices and replies, with no verification, analysis or adjudication of the escapement question. Mere issue of notice did not show application of mind, and the defect was treated as a complete lack of enquiry rather than a mere inadequate enquiry. The section 263 revision was therefore upheld as the order was erroneous and prejudicial to the interests of the revenue, while the merits of the proposed addition were left open for fresh examination.
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