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...
Denial of exemption claim - there was no specific certificate certifying that the yarn received would be supplied to handloom units, the fact remains that merely from this it cannot be inferred that the respondent were aware of the illicit diversion of the yarn by the Punjab State Handloom Weavers Apex Co-operative Society to Power Loom Units - No demand - AT
Denial of exemption claim - there was no specific certificate certifying that the yarn received would be supplied to handloom units, the fact remains that merely from this it cannot be inferred that the respondent were aware of the illicit diversion of the yarn by the Punjab State Handloom Weavers Apex Co-operative Society to Power Loom Units - No demand - AT
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