Delayed judgment pronouncement alone does not invalidate Tribunal orders, while rectification cannot reopen evidence or negate confiscation-related pe...
Agricultural-land reinvestment qualifies when transfer consideration precedes replacement purchase, while unexamined claims may be reassessed on escap...
Bona fide public fixed-deposit explanations prevent concealment penalties where unexplained-credit additions lack independent evidence of undisclosed ...
Factory-consumption condition restricts solar module parts exemption and excludes imported aluminium profiles fabricated outside the production factor...
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Compulsory-acquisition compensation under the National Highways Act that remained unpaid on 31 December 2014 and was received in FY 2015-16 qualified for exemption under section 96 of the RFCTLARR Act. The exemption applied notwithstanding the absence of a specific corresponding exemption in the Income-tax Act, resulting in deletion of the long-term capital-gains addition. Interest received for delayed payment of that compensation was separately taxable as income from other sources under binding jurisdictional High Court precedent. The capital-gains addition was deleted, while the addition for delayed-payment interest was sustained.
Compulsory-acquisition compensation under the National Highways Act that remained unpaid on 31 December 2014 and was received in FY 2015-16 qualified for exemption under section 96 of the RFCTLARR Act. The exemption applied notwithstanding the absence of a specific corresponding exemption in the Income-tax Act, resulting in deletion of the long-term capital-gains addition. Interest received for delayed payment of that compensation was separately taxable as income from other sources under binding jurisdictional High Court precedent. The capital-gains addition was deleted, while the addition for delayed-payment interest was sustained.
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