Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
Electronic Postal Bill of Export templates mandating specified data fields for postal export declarations; system-generated Let Export Order on public...
Income from sale of assets of a bank under liquidation was held not to be diverted at source by overriding title in favour of DICGC; the income accrued to the official liquidator, and the claim of no taxable accrual was rejected. In rectification proceedings, the Tribunal held that the set-off of deemed short-term capital gain on depreciable assets against brought forward business loss was a debatable issue and could not be corrected as an apparent mistake under section 154; the rectification order was quashed. It also held that a bad debt written off in the ordinary course of banking business satisfied the statutory conditions, and actual proof of irrecoverability was not required once the write-off was made; the disallowance was deleted.
Income from sale of assets of a bank under liquidation was held not to be diverted at source by overriding title in favour of DICGC; the income accrued to the official liquidator, and the claim of no taxable accrual was rejected. In rectification proceedings, the Tribunal held that the set-off of deemed short-term capital gain on depreciable assets against brought forward business loss was a debatable issue and could not be corrected as an apparent mistake under section 154; the rectification order was quashed. It also held that a bad debt written off in the ordinary course of banking business satisfied the statutory conditions, and actual proof of irrecoverability was not required once the write-off was made; the disallowance was deleted.
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