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 ex parte revision order under section 263 was held unsustainable because the assessee received only one day to respond to the show-cause notice, which was treated as denial of a reasonable opportunity of hearing and a breach of audi alteram partem. By majority, the Tribunal held that the defect was procedural and curable, so the revision proceedings were not terminated; the impugned order was set aside and the matter remanded for fresh adjudication after adequate opportunity, uninfluenced by observations on merits.
An ex parte revision order under section 263 was held unsustainable because the assessee received only one day to respond to the show-cause notice, which was treated as denial of a reasonable opportunity of hearing and a breach of audi alteram partem. By majority, the Tribunal held that the defect was procedural and curable, so the revision proceedings were not terminated; the impugned order was set aside and the matter remanded for fresh adjudication after adequate opportunity, uninfluenced by observations on merits.
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