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...
Omission of the specified domestic transaction provision for related-party expenditure, without a saving clause for pending actions, treats the omitted provision as if it had never existed. Consequently, transfer-pricing cognizance taken under that omitted provision, the reference to the Transfer Pricing Officer, and consequential transfer-pricing proceedings lack validity. Applying this settled position, the Tribunal allowed the taxpayer's grounds and did not sustain the assessment founded on the impugned transfer-pricing reference.
Omission of the specified domestic transaction provision for related-party expenditure, without a saving clause for pending actions, treats the omitted provision as if it had never existed. Consequently, transfer-pricing cognizance taken under that omitted provision, the reference to the Transfer Pricing Officer, and consequential transfer-pricing proceedings lack validity. Applying this settled position, the Tribunal allowed the taxpayer's grounds and did not sustain the assessment founded on the impugned transfer-pricing reference.
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