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...
CBDT Instruction No. 1 of 2011 issued under section 119 was held to govern pecuniary jurisdiction for issuance of notice under section 143(2). As the assessee's declared income fell below the limit placing jurisdiction with the Income Tax Officer in a metro city, the ACIT lacked competent pecuniary jurisdiction to assume assessment jurisdiction under section 143(3). The defect was treated as a foundational jurisdictional error, not a mere issue of concurrent jurisdiction. The Tribunal distinguished the Revenue's reliance on a different High Court ruling concerning search-related and territorial jurisdiction. The assessment was therefore vitiated and quashed, and the assessee's additional ground was allowed.
CBDT Instruction No. 1 of 2011 issued under section 119 was held to govern pecuniary jurisdiction for issuance of notice under section 143(2). As the assessee's declared income fell below the limit placing jurisdiction with the Income Tax Officer in a metro city, the ACIT lacked competent pecuniary jurisdiction to assume assessment jurisdiction under section 143(3). The defect was treated as a foundational jurisdictional error, not a mere issue of concurrent jurisdiction. The Tribunal distinguished the Revenue's reliance on a different High Court ruling concerning search-related and territorial jurisdiction. The assessment was therefore vitiated and quashed, and the assessee's additional ground was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4813 
Join Channel 
