Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Reasoned and speaking administrative orders are required by natural justice, particularly when rejecting stay applications. Recording reasons replaces subjective decision-making with objective assessment, and the obligation applies to administrative authorities as well as judicial bodies. An unreasoned rejection of a stay application cannot be sustained because it prevents meaningful scrutiny of the decision. The stay-rejection orders were therefore quashed, and the competent authority was directed to determine the stay applications afresh through reasoned and speaking orders.
Reasoned and speaking administrative orders are required by natural justice, particularly when rejecting stay applications. Recording reasons replaces subjective decision-making with objective assessment, and the obligation applies to administrative authorities as well as judicial bodies. An unreasoned rejection of a stay application cannot be sustained because it prevents meaningful scrutiny of the decision. The stay-rejection orders were therefore quashed, and the competent authority was directed to determine the stay applications afresh through reasoned and speaking orders.
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