Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
The HC held that Section 153A uses two different computation methods for search assessments. For the six-year block, the phrase "immediately preceding" excludes the search assessment year; for the extended ten-year block in Explanation 1, the period is computed "from the end of" the assessment year relevant to the year of search, so the search assessment year is included as the first year. The Court rejected the Revenue's attempt to apply the six-year exclusion rule to the ten-year period. On that interpretation, Assessment Year 2015-16 was beyond the permissible ten-year span and the notice under Section 148 was quashed as time-barred.
The HC held that Section 153A uses two different computation methods for search assessments. For the six-year block, the phrase "immediately preceding" excludes the search assessment year; for the extended ten-year block in Explanation 1, the period is computed "from the end of" the assessment year relevant to the year of search, so the search assessment year is included as the first year. The Court rejected the Revenue's attempt to apply the six-year exclusion rule to the ten-year period. On that interpretation, Assessment Year 2015-16 was beyond the permissible ten-year span and the notice under Section 148 was quashed as time-barred.
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