Search and seizure: abatement of earlier search bars use of prior seized material in later search-based assessments; relief limited to new documents f...
Admission of additional evidence under remand rules must await a meaningful remand report; failure to do so breaches natural justice and mandates rema...
Export Obligation Discharge Certificates for EPCG compliance cannot be questioned by Customs unless DGFT adjudicates and cancels them, so demands quas...
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Section 54F relief was held available where sale consideration was invested in a residential house before filing the return under section 139(4), so deposit in the capital gains account was not required. The Tribunal also held that an undivided one-third share in a single contiguous residential property did not amount to ownership of two separate houses, so the assessee was not disentitled on that ground. It further ruled that section 54F must be applied asset-wise: shares of each company were separate capital assets, and long-term capital loss could not be used to deny exemption on gains from other assets.
Section 54F relief was held available where sale consideration was invested in a residential house before filing the return under section 139(4), so deposit in the capital gains account was not required. The Tribunal also held that an undivided one-third share in a single contiguous residential property did not amount to ownership of two separate houses, so the assessee was not disentitled on that ground. It further ruled that section 54F must be applied asset-wise: shares of each company were separate capital assets, and long-term capital loss could not be used to deny exemption on gains from other assets.
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