NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
ITAT held that investment in the new residential flat was evidenced by registered purchase documents, supported by stamp duty and registration payments, banking entries, and the vendor's confirmation of receipt through banking channels. The authorities erred in treating the investment as unexplained merely because cheques were encashed later and in doubting the lease arrangement without showing the registered deed was sham or fraudulent. The reinvestment for capital gains exemption, made within the prescribed period, was therefore allowable and the related addition under unexplained money provisions was deleted. ITAT also deleted the addition for cash deposits, accepting the cash received on sale of the original flat and the balance explained by sale of household goods and current cash balance.
ITAT held that investment in the new residential flat was evidenced by registered purchase documents, supported by stamp duty and registration payments, banking entries, and the vendor's confirmation of receipt through banking channels. The authorities erred in treating the investment as unexplained merely because cheques were encashed later and in doubting the lease arrangement without showing the registered deed was sham or fraudulent. The reinvestment for capital gains exemption, made within the prescribed period, was therefore allowable and the related addition under unexplained money provisions was deleted. ITAT also deleted the addition for cash deposits, accepting the cash received on sale of the original flat and the balance explained by sale of household goods and current cash balance.
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