Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Section 54F was construed as a beneficial provision whose substance is timely investment of capital gains in a residential house, and the Tribunal held that exemption could not be denied where that substantive requirement was met. The assessee's investment was found genuine and the discrepancy in the flat number was explained by developer records, which the Revenue did not rebut. Non-deposit of the unutilised amount in the Capital Gain Account Scheme before the due date under section 139(1) was treated as a technical lapse only, so the deduction was allowed in full and the capital gains addition was deleted.
Section 54F was construed as a beneficial provision whose substance is timely investment of capital gains in a residential house, and the Tribunal held that exemption could not be denied where that substantive requirement was met. The assessee's investment was found genuine and the discrepancy in the flat number was explained by developer records, which the Revenue did not rebut. Non-deposit of the unutilised amount in the Capital Gain Account Scheme before the due date under section 139(1) was treated as a technical lapse only, so the deduction was allowed in full and the capital gains addition was deleted.
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