Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate auth...
Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Section 50 applies only as a limited deeming fiction for computing capital gains on depreciable assets and does not change the asset's character for all purposes. The Tribunal held that where the asset was held beyond the prescribed period, the resulting gain could be computed under section 50 but remained taxable at the long-term capital gains rate, not as short-term capital gain merely because depreciation had been claimed earlier. It also sustained adoption of the written down value as the cost of acquisition, rejecting indexation from original cost and the separate claim for cost of improvement because no supporting evidence was produced.
Section 50 applies only as a limited deeming fiction for computing capital gains on depreciable assets and does not change the asset's character for all purposes. The Tribunal held that where the asset was held beyond the prescribed period, the resulting gain could be computed under section 50 but remained taxable at the long-term capital gains rate, not as short-term capital gain merely because depreciation had been claimed earlier. It also sustained adoption of the written down value as the cost of acquisition, rejecting indexation from original cost and the separate claim for cost of improvement because no supporting evidence was produced.
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