Limitation period commencement and procedural inquiry rules: identity-based limitation upheld; complaints by authorised public servants need not attra...
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...
Land executed under a development agreement-cum-power of attorney was held assessable in the individual owners' hands because legal title vested in them and the documents were executed by them personally, while the asserted partition was treated only as an internal family arrangement and not proof of HUF ownership. The Tribunal further held that the agreement granted the developer only a limited licence to enter for construction, not effective transfer of possession for capital gains purposes, and no non-refundable consideration had been received. As the essential conditions for transfer were not satisfied in the relevant year, the capital gains addition was deleted.
Land executed under a development agreement-cum-power of attorney was held assessable in the individual owners' hands because legal title vested in them and the documents were executed by them personally, while the asserted partition was treated only as an internal family arrangement and not proof of HUF ownership. The Tribunal further held that the agreement granted the developer only a limited licence to enter for construction, not effective transfer of possession for capital gains purposes, and no non-refundable consideration had been received. As the essential conditions for transfer were not satisfied in the relevant year, the capital gains addition was deleted.
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