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...
Input tax credit cannot be denied to a bona fide purchasing dealer merely because the supplier failed to deposit the tax collected, where the purchaser dealt with a registered supplier and complied with statutory requirements. The Department's remedy lies against the defaulting supplier, not by imposing vicarious liability on the purchaser or raising a consequential demand against a genuine transaction. The denial may still be revisited if material shows the purchases were not bona fide or were entered into in collusion with the supplier; on that footing, the impugned demand order was set aside with liberty to proceed afresh in accordance with law.
Input tax credit cannot be denied to a bona fide purchasing dealer merely because the supplier failed to deposit the tax collected, where the purchaser dealt with a registered supplier and complied with statutory requirements. The Department's remedy lies against the defaulting supplier, not by imposing vicarious liability on the purchaser or raising a consequential demand against a genuine transaction. The denial may still be revisited if material shows the purchases were not bona fide or were entered into in collusion with the supplier; on that footing, the impugned demand order was set aside with liberty to proceed afresh in accordance with law.
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