Independent manufacturing undertaking eligibility preserves Section 80IA/80IB deductions, while machinery kept ready for use qualifies for depreciatio...
Assessing Officer Satisfaction Requirement Bars Penalty for Cash Receipt in Immovable-Property Sale Cases Where Initiation Lacks Recorded Satisfaction...
Self-assessed import entries remain appealable, while bona fide classification disputes without misdeclaration cannot justify confiscation or penaltie...
Actual-user customs exemption conditions permit turnkey project transfers when imported windmill components are exclusively used for installation and ...
Customs offence disqualification excludes civil contraventions, preventing refusal of a private bonded warehouse licence based solely on monetary pena...
Purchase additions could not be sustained where the taxpayer produced ledgers, invoices, supplier details, registration particulars, bank statements and cheque counterfoils, while undisputed crossed-cheque payments were later realised by third parties. No legal bar then restricted crossed cheques, and the taxpayer could not control their endorsement; absent further inquiry, the High Court restored the first appellate authority's deletion. Wage disallowance based solely on presumed inflation and a doubtful wage register lacked evidentiary support. The High Court set aside the Tribunal's reduced disallowance and restored deletion of both additions; the gross-profit issue remained unanswered.
Purchase additions could not be sustained where the taxpayer produced ledgers, invoices, supplier details, registration particulars, bank statements and cheque counterfoils, while undisputed crossed-cheque payments were later realised by third parties. No legal bar then restricted crossed cheques, and the taxpayer could not control their endorsement; absent further inquiry, the High Court restored the first appellate authority's deletion. Wage disallowance based solely on presumed inflation and a doubtful wage register lacked evidentiary support. The High Court set aside the Tribunal's reduced disallowance and restored deletion of both additions; the gross-profit issue remained unanswered.
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