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...
Rectification under section 154 is confined to manifest, patent and self-evident mistakes apparent from the record; it cannot resolve issues requiring factual examination, legal interpretation or a choice between possible views. Although non-consideration of a binding judgment may constitute such a mistake, disputed computation of taxable income after denial of exemption to an educational society-including treatment of capital receipts and capital expenditure-requires examination of the nature of receipts, expenditure and the applicable computation method. As those questions were debatable and formed part of a pending quantum appeal, rectification could not be used as a review mechanism or substitute for appellate adjudication. The rectification application was therefore rejected, subject to pursuit of grounds in the quantum appeal.
Rectification under section 154 is confined to manifest, patent and self-evident mistakes apparent from the record; it cannot resolve issues requiring factual examination, legal interpretation or a choice between possible views. Although non-consideration of a binding judgment may constitute such a mistake, disputed computation of taxable income after denial of exemption to an educational society-including treatment of capital receipts and capital expenditure-requires examination of the nature of receipts, expenditure and the applicable computation method. As those questions were debatable and formed part of a pending quantum appeal, rectification could not be used as a review mechanism or substitute for appellate adjudication. The rectification application was therefore rejected, subject to pursuit of grounds in the quantum appeal.
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