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...
Section 54 exemption may extend to a residential property comprising multiple floors where the floors are acquired as one property through reinvestment of capital gains; separate physical structuring or potential independent use alone does not establish multiple houses. The Tribunal directed exemption for the property as a whole. For capital-gains computation, rejection of registered valuers' land valuations without identified defects or a DVO reference, while accepting the superstructure valuation, was treated as impermissible. The unrebutted valuation report and material builder's certificate were required to be considered, and capital gains were directed to be recomputed accordingly.
Section 54 exemption may extend to a residential property comprising multiple floors where the floors are acquired as one property through reinvestment of capital gains; separate physical structuring or potential independent use alone does not establish multiple houses. The Tribunal directed exemption for the property as a whole. For capital-gains computation, rejection of registered valuers' land valuations without identified defects or a DVO reference, while accepting the superstructure valuation, was treated as impermissible. The unrebutted valuation report and material builder's certificate were required to be considered, and capital gains were directed to be recomputed accordingly.
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