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...
Fraud-account classification requires a reasoned order showing due application of mind, although the reasons need not match the detail of a judicial judgment. The order identified grounds under the Fraud Master Circular and recorded audit findings on diversion of funds through an undisclosed account, related-party transactions, unjustified transfers and interest-free advances; it was therefore adequately reasoned. Natural justice was not breached because the petitioners had received and discussed the draft audit report, had opportunities to provide material, and received the final report with the show-cause notice. The HC dismissed the writ petition, upholding the fraud classification.
Fraud-account classification requires a reasoned order showing due application of mind, although the reasons need not match the detail of a judicial judgment. The order identified grounds under the Fraud Master Circular and recorded audit findings on diversion of funds through an undisclosed account, related-party transactions, unjustified transfers and interest-free advances; it was therefore adequately reasoned. Natural justice was not breached because the petitioners had received and discussed the draft audit report, had opportunities to provide material, and received the final report with the show-cause notice. The HC dismissed the writ petition, upholding the fraud classification.
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