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...
Income tax returns are an important reference point for assessing annual income under the Motor Vehicles Act, but no rigid formula applies. For salaried claimants, the immediately preceding return will ordinarily suffice. For self-employed persons, the proper basis is the average of up to the previous three years' returns, read with the nature, growth and future potential of the business, initial losses or negative income, and other surrounding circumstances. Applying that approach, the deceased's construction business income could not be fixed by a mechanical average alone, so the annual income was reassessed at a higher figure and compensation enhanced with interest as awarded.
Income tax returns are an important reference point for assessing annual income under the Motor Vehicles Act, but no rigid formula applies. For salaried claimants, the immediately preceding return will ordinarily suffice. For self-employed persons, the proper basis is the average of up to the previous three years' returns, read with the nature, growth and future potential of the business, initial losses or negative income, and other surrounding circumstances. Applying that approach, the deceased's construction business income could not be fixed by a mechanical average alone, so the annual income was reassessed at a higher figure and compensation enhanced with interest as awarded.
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