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...
Marketing expenditure supported only by self-made vouchers may be disallowed where third-party evidence is absent, but a complete disallowance may be inappropriate when the expenditure is modest relative to turnover, relates to client visits and outstation costs, and audited books contain no adverse comments. The discussion notes that a restricted disallowance was sustained. It further explains that insufficient substantiation of an expenditure claim does not itself establish misreporting under section 270A unless a statutory category, such as misrepresentation, suppression of facts, lack of evidence, or a false book entry, is identified. The related misreporting penalty was deleted.
Marketing expenditure supported only by self-made vouchers may be disallowed where third-party evidence is absent, but a complete disallowance may be inappropriate when the expenditure is modest relative to turnover, relates to client visits and outstation costs, and audited books contain no adverse comments. The discussion notes that a restricted disallowance was sustained. It further explains that insufficient substantiation of an expenditure claim does not itself establish misreporting under section 270A unless a statutory category, such as misrepresentation, suppression of facts, lack of evidence, or a false book entry, is identified. The related misreporting penalty was deleted.
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