Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
Toy balloon tariff classification: functional heading prevails over residual rubber and festive article headings, supporting penalties for deliberate ...
Customs valuation using comparable contemporaneous imports can displace declared value, while missing speaking orders require pursuit before competent...
ITAT held that the alleged excess business loss arose from a clerical computation mismatch between book loss and loss computed under the Act, with no adverse scrutiny finding on the underlying claim, so the disallowance was deleted. It further accepted compensation paid to remove encroachment as a genuine cost of improvement for long-term capital gains computation, noting that the supporting agreements, payment records and verification material showed no serious discrepancy and the lower authorities had rejected the claim only on a general assertion of incomplete details. The indexed cost of improvement was therefore allowed and the appeal succeeded in full.
ITAT held that the alleged excess business loss arose from a clerical computation mismatch between book loss and loss computed under the Act, with no adverse scrutiny finding on the underlying claim, so the disallowance was deleted. It further accepted compensation paid to remove encroachment as a genuine cost of improvement for long-term capital gains computation, noting that the supporting agreements, payment records and verification material showed no serious discrepancy and the lower authorities had rejected the claim only on a general assertion of incomplete details. The indexed cost of improvement was therefore allowed and the appeal succeeded in full.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
