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...
In a real estate anti-profiteering matter, the Tribunal accepted the DGAP report in full because the respondent unconditionally accepted the methodology, quantification and contravention finding, and the remaining profiteered amount for the period up to receipt of the Occupancy Certificate was ordered to be refunded to eligible homebuyers. It also upheld interest on the profiteered amount, holding that interest is payable from the dates of excess collection until actual refund. The penalty provision was held inapplicable because the alleged profiteering had ended before Section 171(3A) came into force, so no penalty was payable.
In a real estate anti-profiteering matter, the Tribunal accepted the DGAP report in full because the respondent unconditionally accepted the methodology, quantification and contravention finding, and the remaining profiteered amount for the period up to receipt of the Occupancy Certificate was ordered to be refunded to eligible homebuyers. It also upheld interest on the profiteered amount, holding that interest is payable from the dates of excess collection until actual refund. The penalty provision was held inapplicable because the alleged profiteering had ended before Section 171(3A) came into force, so no penalty was payable.
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