Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Proceedings under section 153C were held without jurisdiction for A.Y. 2014-15 because the satisfaction note dated 31.05.2023 fixed A.Y. 2024-25 as the reckoning year, so the ten-year block could reach back only to A.Y. 2015-16 and not earlier; the notice and assessment for A.Y. 2014-15 were quashed. For A.Ys. 2015-16 and 2016-17, the Tribunal held that satisfaction recorded after 01.04.2021 could not sustain section 153C action against the other person, and proceedings ought to have been initiated under section 148 instead; the section 153C proceedings were quashed and the remaining grounds were left academic.
Proceedings under section 153C were held without jurisdiction for A.Y. 2014-15 because the satisfaction note dated 31.05.2023 fixed A.Y. 2024-25 as the reckoning year, so the ten-year block could reach back only to A.Y. 2015-16 and not earlier; the notice and assessment for A.Y. 2014-15 were quashed. For A.Ys. 2015-16 and 2016-17, the Tribunal held that satisfaction recorded after 01.04.2021 could not sustain section 153C action against the other person, and proceedings ought to have been initiated under section 148 instead; the section 153C proceedings were quashed and the remaining grounds were left academic.
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