RBI has permitted commercial banks to finance REITs and InvITs while imposing detailed safeguards on leverage, security, refinancing, and exposure limits. The framework aims to balance sectoral growth with financial stability.
The ruling clarifies that consignment notes carry legal significance under the Finance Act and Service Tax Rules for determining GTA status. Without such documents, a transporter cannot be subjected to service tax as a Goods Transport Agency.
The focus is on converting savings into investments rather than leaving them idle. The key takeaway is that disciplined investing can strengthen financial outcomes over time.
The Tribunal ruled that the guideline value recorded in a registered document is not conclusive for computing capital gains if the assessee proves that a higher amount was genuinely paid. The decision underscores the importance of substantive evidence over mere recitals in the sale deed.
The Rajasthan High Court held that an order restoring appeals through review proceedings is not separately appealable under the Benami Act. The Court ruled that Order 47 Rule 7 CPC barred such challenges.
The Tribunal found that the authorities below failed to properly apply the principles governing section 80P deductions relating to nominal members, statutory deposits, and co-operative society investments. The matter was remanded for reconsideration in accordance with settled law.
The Allahabad High Court held that Magistrates and police officers may be personally liable for compensation where unlawful preventive detention violates personal liberty. The ruling mandates recovery from erring officials after due disciplinary proceedings.
Addition of ₹90 lakh made under section 69A towards alleged cash payment for purchase of property as well as the addition made under section 69C on account of alleged unaccounted purchases was deleted as additions based solely on third-party documents, without independent corroboration or evidence directly linking the transactions to assessee were not sustainable in law.
The Tribunal noted that donations to Swachh Bharat Kosh and Clean Ganga Fund made towards CSR obligations are specifically excluded under section 80G, while no similar embargo exists for other eligible institutions. Consequently, the assessee’s claim for deduction was allowed in full.
Where an EPCG licence holder becomes incapable of fulfilling export obligations due to unavoidable circumstances such as SARFAESI auction of imported assets, levy of interest and penalty cannot be sustained, particularly when customs duty has already been recovered through encashment of bank guarantees. Tribunal upheld only the customs duty demand while setting aside confiscation, interest and penalty.
