Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
The ITAT held that the enhanced leave encashment exemption ceiling of Rs. 25 lakhs could not be applied retrospectively to an employee who retired before 01.04.2023. Following the Kerala High Court view in Ramesan P. A. v. Union of India, the Tribunal accepted that extending the benefit to earlier retirees lay within the executive domain and could not be directed by the Court. The assessee's exemption was therefore confined to Rs. 3 lakhs, and the Assessing Officer's consequential addition was sustained.
The ITAT held that the enhanced leave encashment exemption ceiling of Rs. 25 lakhs could not be applied retrospectively to an employee who retired before 01.04.2023. Following the Kerala High Court view in Ramesan P. A. v. Union of India, the Tribunal accepted that extending the benefit to earlier retirees lay within the executive domain and could not be directed by the Court. The assessee's exemption was therefore confined to Rs. 3 lakhs, and the Assessing Officer's consequential addition was sustained.
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