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Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
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Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
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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