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...
For reassessment notices issued more than three years after the relevant assessment year, prior approval for the order under section 148A(d) and notice under section 148 must come from the authority specified in section 151(ii): the Principal Chief Commissioner, Principal Director General, Chief Commissioner or Director General. Approval by a Principal Commissioner is not valid sanction after that period because that authority lacks statutory competence. A later provision characterising approvals as administrative and supervisory does not cure sanction granted by an unauthorised authority. Reassessment initiated on such invalid approval is liable to be quashed for lack of jurisdiction, while unrelated merits issues remain open.
For reassessment notices issued more than three years after the relevant assessment year, prior approval for the order under section 148A(d) and notice under section 148 must come from the authority specified in section 151(ii): the Principal Chief Commissioner, Principal Director General, Chief Commissioner or Director General. Approval by a Principal Commissioner is not valid sanction after that period because that authority lacks statutory competence. A later provision characterising approvals as administrative and supervisory does not cure sanction granted by an unauthorised authority. Reassessment initiated on such invalid approval is liable to be quashed for lack of jurisdiction, while unrelated merits issues remain open.
Note: It is a system-generated summary and is for quick reference only.
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