Preliminary reassessment proceedings generally require statutory remedies unless jurisdiction is wholly absent or mandatory conditions are patently br...
Agricultural land classification requires cumulative factual indicators, while industrial-purpose land and absent agricultural use defeat reinvestment...
Composite residential flat exemption upheld where supplementary agreement merged adjoining units and additional evidence supported the taxpayer's inve...
Redevelopment hardship compensation received as a predetermined lump-sum for shifting, re-shifting, demolition-related inconvenience and shared common areas was held to be a capital receipt, not consideration for transfer of property rights, so the addition was deleted. The first appellate authority's direction to compute capital gain on the additional 56% carpet area was treated as an enhancement of income; because no prior show-cause notice or opportunity under section 251(2) was shown, that enhancement was set aside and the issue was remitted for fresh consideration after hearing the assessee.
Redevelopment hardship compensation received as a predetermined lump-sum for shifting, re-shifting, demolition-related inconvenience and shared common areas was held to be a capital receipt, not consideration for transfer of property rights, so the addition was deleted. The first appellate authority's direction to compute capital gain on the additional 56% carpet area was treated as an enhancement of income; because no prior show-cause notice or opportunity under section 251(2) was shown, that enhancement was set aside and the issue was remitted for fresh consideration after hearing the assessee.
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