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...
Refund of accumulated input tax credit was allowed to the extent the services qualified as export of services, because the overseas contracting entity was treated as an independent legal person and the supplies were found to be delivered to recipients outside India. Input tax credit on royalty for licensing, patented technology and trademark rights was also upheld, as the payment was in furtherance of business and its valuation could not be reopened in refund proceedings. The Court further held that credit on business inputs and input services could not be denied as ineligible or blocked credit on the facts found. Residual issues on duty drawback, invoices, credit notes and adjusted total turnover were remitted for fresh consideration.
Refund of accumulated input tax credit was allowed to the extent the services qualified as export of services, because the overseas contracting entity was treated as an independent legal person and the supplies were found to be delivered to recipients outside India. Input tax credit on royalty for licensing, patented technology and trademark rights was also upheld, as the payment was in furtherance of business and its valuation could not be reopened in refund proceedings. The Court further held that credit on business inputs and input services could not be denied as ineligible or blocked credit on the facts found. Residual issues on duty drawback, invoices, credit notes and adjusted total turnover were remitted for fresh consideration.
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