Answers to queries on legal issues

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Computation of interest under section 244A(1A) of the Act
Subject: Computation of interest under section 244A(1A) of the Act
Category: 
Asked by: Dhinesh
Answered by:
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Date: August 31, 2025
Excerpt of answer:
The additional interest u/s 244A(1A) is to be calculated on the excess tax and not the interest u/s 244A(1). The provision uses "in addition to the interest payable under sub-section (1)", indicating that the additional interest under (1A) is computed on the principal and not on the interest referred to in ss (1) itself. (read more)
54 and 54F
Subject: 54 and 54F
Category: 
Asked by: BKS
Answered by:
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Date: August 31, 2025
Excerpt of answer:
Date of possession will be regarded as the date of purchase for s. 54 & 54F. (read more)
Circular 16/2024 dt 18/11/24 applies to form 10 CCB
Subject: Circular 16/2024 dt 18/11/24 applies to form 10 CCB
Category: 
Asked by: Prathik mutha
Answered by:
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Date: August 31, 2025
Excerpt of answer:
No. There is no direct linking. It will have to be argued that the principle applies on parity of reasoning. (read more)
search case last authorisation on 5.10.2020
Subject: search case last authorisation on 5.10.2020
Category: 
Asked by: k sharma
Answered by:
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Date: August 31, 2025
Excerpt of answer:
The time limit for completion of search assessment u/s 153A & 153B is over and so those proceedings cannot be initiated. Even the s. 148 time limit is over. You will have to apply to the AO u/s 132B for release of the seized amount. If the Dept does not respond or if they refuse,… (read more)
unused amount deposited in Cap Gain Scheme before due date
Subject: unused amount deposited in Cap Gain Scheme before due date
Category: 
Asked by: bs
Answered by:
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Date: August 31, 2025
Excerpt of answer:
Under Sections 54 & 54F, if the amount deposited in the CGAS remains unutilized within the prescribed period, it becomes taxable in that year. No, another flat cannot be claimed against the unutilized amount in the 4th year. For the unutilized amount, the exemption is forfeited and it becomes taxable. (read more)
INTERPRETATION OF SEC 244A(3)
Subject: INTERPRETATION OF SEC 244A(3)
Category: 
Asked by: Sushila Lunawat
Answered by:
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Date: August 24, 2025
Excerpt of answer:
In my view, the additional interest u/s 244A(1A) is applicable only in cases where refund arises due to appellate/revisional orders specified in Sec. 244A(1A). Section 244A(1A) "(1A) In a case where a refund arises as a result of giving effect to an order under section 250 or section 254 or section 260 or section 262… (read more)
How many days it takes to receive itat order after order are pronounced
Subject: How many days it takes to receive itat order after order are pronounced
Category: 
Asked by: Roma prakash chhugani
Answered by:
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Date: August 24, 2025
Excerpt of answer:
The order is uploaded on the website of the ITAT immediately after the order is pronounced in Court. A certified copy takes about 4 to 6 weeks to be dispatched and may require some follow up with the clerk if there is some urgency. (read more)
Indexed Cost of Improvements
Subject: Indexed Cost of Improvements
Category: 
Asked by: Prabhat Kumar
Answered by:
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Date: August 24, 2025
Excerpt of answer:
If you have bank statements showing the payments and the contractor is willing to confirm that he did the structural improvements, it would help in the absence of bills. If any municipal approvals were obtained, that would also help. An architect's certificate and/ or the valuer's certificate would also help. (read more)
Criminal appeals
Subject: Criminal appeals
Category: 
Asked by: Patil
Answered by:
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Date: August 24, 2025
Excerpt of answer:
The appeal is maintainable under Article 132 only if the case involves a substantial question of law as to the interpretation of the Constitution and the High Court issues a certificate to that effect. An acquittal on insanity grounds is unlikely to meet this threshold unless it involves a constitutional issue. The appeal is not… (read more)
INCOME TAX ACT – APPLICABILITY OF SEC 112A
Subject: INCOME TAX ACT – APPLICABILITY OF SEC 112A
Category: 
Asked by: L SAI KRISHNA KUMAR
Answered by:
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Date: August 24, 2025
Excerpt of answer:
(i) Yes. The exemption of ₹1,25,000 under Section 112A can be claimed even if the GTI is zero or negative. The exemption applies specifically to LTCG from specified securities, and it is not contingent on the GTI being positive. (ii) Only the excess LTCG over ₹1,25,000 is taxable under Section 112A. (read more)