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...
Issuance of a reassessment notice under the new regime required compliance with the sanction structure in section 151, and where more than three years had elapsed from the end of the relevant assessment year, prior approval had to be obtained from the Principal Chief Commissioner or equivalent authority under section 151(ii). Because the notice for AY 2016-17 was approved by the Pr. CIT instead of the specified authority, the approval was held jurisdictionally defective. The Tribunal treated proper sanction as a mandatory pre-condition, quashed the section 148 notice, and held that the consequential reassessment under section 147 could not survive; the merits were left academic.
Issuance of a reassessment notice under the new regime required compliance with the sanction structure in section 151, and where more than three years had elapsed from the end of the relevant assessment year, prior approval had to be obtained from the Principal Chief Commissioner or equivalent authority under section 151(ii). Because the notice for AY 2016-17 was approved by the Pr. CIT instead of the specified authority, the approval was held jurisdictionally defective. The Tribunal treated proper sanction as a mandatory pre-condition, quashed the section 148 notice, and held that the consequential reassessment under section 147 could not survive; the merits were left academic.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
