Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Capital gains on a slump sale under section 50B were recomputed to allow reduction of capital work-in-progress that had been inadvertently omitted from the original working. The Tribunal noted that the assessee had already offered the slump sale gain in the original return, explained the omission during assessment, and showed the asset consistently in earlier balance sheets. As the Assessing Officer rejected the claim only because it was not made through a revised return, without disputing its factual correctness or adducing contrary material, the correction could not be denied on that procedural ground. The appellate order allowing the recomputation was upheld.
Capital gains on a slump sale under section 50B were recomputed to allow reduction of capital work-in-progress that had been inadvertently omitted from the original working. The Tribunal noted that the assessee had already offered the slump sale gain in the original return, explained the omission during assessment, and showed the asset consistently in earlier balance sheets. As the Assessing Officer rejected the claim only because it was not made through a revised return, without disputing its factual correctness or adducing contrary material, the correction could not be denied on that procedural ground. The appellate order allowing the recomputation was upheld.
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