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...
Unwinding allegedly fraudulent and void transactions in oppression and mismanagement proceedings does not depend on prior consent where the pleadings seek to expose sham, circuitous arrangements and their true effect. The Tribunal held that the earlier appellate order did not make mutual agreement an inflexible precondition, and that the proviso governing termination or modification of subsisting third-party agreements did not bar wider relief when illegality was alleged. Detailed pleadings, annexures and investigative materials were sufficient to require merits examination. Election, estoppel and approbate-reprobate could not be used to shut out scrutiny of transactions said to bypass binding regulatory directions, which were treated as statutory and enforceable.
Unwinding allegedly fraudulent and void transactions in oppression and mismanagement proceedings does not depend on prior consent where the pleadings seek to expose sham, circuitous arrangements and their true effect. The Tribunal held that the earlier appellate order did not make mutual agreement an inflexible precondition, and that the proviso governing termination or modification of subsisting third-party agreements did not bar wider relief when illegality was alleged. Detailed pleadings, annexures and investigative materials were sufficient to require merits examination. Election, estoppel and approbate-reprobate could not be used to shut out scrutiny of transactions said to bypass binding regulatory directions, which were treated as statutory and enforceable.
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