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...
Where reassessment was triggered by documents found in a search on a third party, the Revenue had to proceed under the special search-assessment mechanism for "other person" cases and could not invoke general reassessment under section 147 on the same material. The Tribunal held that assumption of jurisdiction under section 147 was invalid because the very basis of action arose from third-party search material, and the reassessment was therefore vitiated. The remaining grounds were treated as academic, and the reassessment proceedings were quashed.
Where reassessment was triggered by documents found in a search on a third party, the Revenue had to proceed under the special search-assessment mechanism for "other person" cases and could not invoke general reassessment under section 147 on the same material. The Tribunal held that assumption of jurisdiction under section 147 was invalid because the very basis of action arose from third-party search material, and the reassessment was therefore vitiated. The remaining grounds were treated as academic, and the reassessment proceedings were quashed.
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