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...
Section 95(4)(a) of the Insolvency and Bankruptcy Code was treated as a completeness requirement for personal guarantor insolvency applications, not a rigid jurisdictional bar. Where liability was admitted through guarantee deeds, compromise terms and earlier judicial proceedings, the Appellate Tribunal held that the statutory purpose of disclosing debt was already satisfied and no further elaborate narration was necessary. A procedural objection about inadequate particulars, raised for the first time in appeal, was rejected because it involved mixed questions of fact and law and had not been urged before the Adjudicating Authority. The admission of the section 95 applications was accordingly upheld.
Section 95(4)(a) of the Insolvency and Bankruptcy Code was treated as a completeness requirement for personal guarantor insolvency applications, not a rigid jurisdictional bar. Where liability was admitted through guarantee deeds, compromise terms and earlier judicial proceedings, the Appellate Tribunal held that the statutory purpose of disclosing debt was already satisfied and no further elaborate narration was necessary. A procedural objection about inadequate particulars, raised for the first time in appeal, was rejected because it involved mixed questions of fact and law and had not been urged before the Adjudicating Authority. The admission of the section 95 applications was accordingly upheld.
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