Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
Limitation in customs appeals permits exclusion for bona fide refund proceedings, enabling restoration of Bill of Entry assessment challenges on merit...
Warehousing permission requires deposit at the designated bonded warehouse; unauthorised diversion triggers confiscation, redemption fine and importer...
Enhanced taxation of unexplained income under the amended Section 115BBE was treated as prospective, applying from Assessment Year 2018-19 rather than Assessment Year 2017-18. Where High Court decisions conflict and no binding jurisdictional High Court or Supreme Court ruling exists, the interpretation favourable to the assessee applies; tax for the earlier year is therefore computed under the unamended provision. Cash deposits used to repay a bank loan may be treated as unexplained money under Section 69A when their source lacks documentary support, but the entire deposit need not be added if reasonable cash-in-hand is available for ordinary requirements. The unexplained-money addition was consequently restricted.
Enhanced taxation of unexplained income under the amended Section 115BBE was treated as prospective, applying from Assessment Year 2018-19 rather than Assessment Year 2017-18. Where High Court decisions conflict and no binding jurisdictional High Court or Supreme Court ruling exists, the interpretation favourable to the assessee applies; tax for the earlier year is therefore computed under the unamended provision. Cash deposits used to repay a bank loan may be treated as unexplained money under Section 69A when their source lacks documentary support, but the entire deposit need not be added if reasonable cash-in-hand is available for ordinary requirements. The unexplained-money addition was consequently restricted.
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