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...
An application for waiver of interest and penalty under section 128A could not be rejected solely because input tax credit had been availed from non-existing taxpayers, cancelled dealers, or return defaulters. The High Court held that, since an assessment order had been issued and no appellate order existed, the application fell within clause (b) of section 128A(1) and related to a covered period. If the alleged ITC irregularity was the real basis, proceedings ought to have been initiated under section 74; the record showed they were initiated under section 73. The rejection was therefore unsustainable, the order was set aside, and the waiver application was remanded for fresh consideration.
An application for waiver of interest and penalty under section 128A could not be rejected solely because input tax credit had been availed from non-existing taxpayers, cancelled dealers, or return defaulters. The High Court held that, since an assessment order had been issued and no appellate order existed, the application fell within clause (b) of section 128A(1) and related to a covered period. If the alleged ITC irregularity was the real basis, proceedings ought to have been initiated under section 74; the record showed they were initiated under section 73. The rejection was therefore unsustainable, the order was set aside, and the waiver application was remanded for fresh consideration.
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