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...
Reopening of assessment under section 147 was invalid where it was based on the same material already examined in the original scrutiny, with no new tangible information, and on an incorrect factual premise that separate research and development accounts were not maintained. The Tribunal treated this as a mere change of opinion after four years and held the jurisdictional assumption bad in law. On merits, it found no multiple deduction: the disputed depreciation was already included in research and development expenditure and had been added back in the income computation, so no further disallowance survived. The appellate authority also could not uphold denial of weighted deduction beyond the reassessment order without enhancement notice.
Reopening of assessment under section 147 was invalid where it was based on the same material already examined in the original scrutiny, with no new tangible information, and on an incorrect factual premise that separate research and development accounts were not maintained. The Tribunal treated this as a mere change of opinion after four years and held the jurisdictional assumption bad in law. On merits, it found no multiple deduction: the disputed depreciation was already included in research and development expenditure and had been added back in the income computation, so no further disallowance survived. The appellate authority also could not uphold denial of weighted deduction beyond the reassessment order without enhancement notice.
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