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...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
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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