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...
Reassessment founded on seized material requires a live and direct nexus between the material and the assessee. An inquiry-register entry held by a real-estate broker, which predated the land purchase, reflected land offered for sale and an asking rate rather than a completed transaction. As the entry neither identified nor linked the assessee or co-purchasers, and the named person was not examined, a survey-number match alone could not establish unrecorded consideration. The notice reopening assessment was therefore quashed as based on conjecture and surmise rather than material linked to the assessee.
Reassessment founded on seized material requires a live and direct nexus between the material and the assessee. An inquiry-register entry held by a real-estate broker, which predated the land purchase, reflected land offered for sale and an asking rate rather than a completed transaction. As the entry neither identified nor linked the assessee or co-purchasers, and the named person was not examined, a survey-number match alone could not establish unrecorded consideration. The notice reopening assessment was therefore quashed as based on conjecture and surmise rather than material linked to the assessee.
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