The issue was whether the income-tax e-filing utility could prevent an assessee from making a lawful set-off claim. The High Court held that procedural software cannot override statutory rights and directed that such claims must be allowed.
The issue was whether sale involved only land or land with a residential house. The Tribunal ruled that the property sold included a residential structure, entitling the assessee to Section 54 exemption upon deposit in the capital gains scheme.
The ruling clarifies that investigation of corruption offences is not reserved exclusively for the CBI. State police agencies may proceed under the PC Act if statutory rank requirements are met.
The Tribunal held that documented WhatsApp communications established counsel’s negligence and the assessee’s due diligence, justifying condonation of delay. The matter was restored for fresh adjudication to ensure substantial justice.
The Court held that Section 74 SCNs lacking factual narration of fraud or suppression are deficient. The key takeaway is that numbers alone cannot justify penal proceedings.
The addition was set aside as no cash was found, traced, or shown to be received by the assessee. Mere suspicion or inference cannot substitute proof under section 69A.
This summary captures major notifications and court rulings issued during the week. The key takeaway is heightened regulatory clarity across taxation, markets, and foreign exchange.
The Tribunal upheld exemption where the assessee invested the entire capital gain within time but possession was delayed due to builder-related litigation. The ruling confirms that investment, not possession, is the key requirement under Section 54F.
The court held that reopening an assessment on the same facts amounts to an impermissible change of opinion. Arbitrary second reassessment notices were quashed with ₹1 lakh costs imposed to deter harassment.
The tribunal has instructed registries not to flag defects of form that do not affect merits. This eases compliance during early portal usage.
