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...
Clean slate principle bars revival of pre-CIRP electricity dues and the connected late payment surcharge after approval of a resolution plan. Where the surcharge had already arisen on unpaid electricity charges before CIRP, extinguishment of the principal pre-resolution claim also prevents indirect recovery of the related surcharge as a condition for restoring supply. Reliance on post-disconnection billing or section 56(2) concepts was misplaced because the liability had already been billed and formed part of the pre-CIRP dues. A demand for pre-CIRP surcharge as a precondition to a fresh electricity connection was therefore treated as arbitrary and without authority of law.
Clean slate principle bars revival of pre-CIRP electricity dues and the connected late payment surcharge after approval of a resolution plan. Where the surcharge had already arisen on unpaid electricity charges before CIRP, extinguishment of the principal pre-resolution claim also prevents indirect recovery of the related surcharge as a condition for restoring supply. Reliance on post-disconnection billing or section 56(2) concepts was misplaced because the liability had already been billed and formed part of the pre-CIRP dues. A demand for pre-CIRP surcharge as a precondition to a fresh electricity connection was therefore treated as arbitrary and without authority of law.
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