Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
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.
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