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...
Recording reasons before issuing a reassessment notice and obtaining sanction based on independent application of mind are jurisdictional requirements. The note explains that undated recorded reasons and an undated sanction are invalid where the sanctioning authority merely writes "yes" or "approved" on a prescribed proforma without demonstrating consideration of the material. Such mechanical approval vitiates the reassessment proceedings. On these facts, the reassessment and consequential assessment order were quashed as bad in law, while other grounds became academic.
Recording reasons before issuing a reassessment notice and obtaining sanction based on independent application of mind are jurisdictional requirements. The note explains that undated recorded reasons and an undated sanction are invalid where the sanctioning authority merely writes "yes" or "approved" on a prescribed proforma without demonstrating consideration of the material. Such mechanical approval vitiates the reassessment proceedings. On these facts, the reassessment and consequential assessment order were quashed as bad in law, while other grounds became academic.
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