Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Penalty proceedings under ss. 271D and 271E were held unsustainable where the Revenue relied only on entries in seized papers belonging to third parties, without proving that the assessee actually accepted or repaid cash loans. The Tribunal held that such proceedings are penal in nature and independent of assessment proceedings, so the initial burden remained on the Revenue. That burden was not discharged because the documents were not shown to be the assessee's own records, no evidence proved utilisation or repayment, and the assessee's request for copies and cross-examination was denied. The penalties were deleted.
Penalty proceedings under ss. 271D and 271E were held unsustainable where the Revenue relied only on entries in seized papers belonging to third parties, without proving that the assessee actually accepted or repaid cash loans. The Tribunal held that such proceedings are penal in nature and independent of assessment proceedings, so the initial burden remained on the Revenue. That burden was not discharged because the documents were not shown to be the assessee's own records, no evidence proved utilisation or repayment, and the assessee's request for copies and cross-examination was denied. The penalties were deleted.
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