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...
Penalty u/s 112(a) of the CA, 1962 - Mis-declaration of goods - The goods stand absolutely confiscated without giving an option for redemption - The importer seems to have accepted this and forfeited this consignment. - However for the offence of misdeclaration, the importer will be liable for penalty u/s 112(a) of the CA, 1962. - AT
Penalty u/s 112(a) of the CA, 1962 - Mis-declaration of goods - The goods stand absolutely confiscated without giving an option for redemption - The importer seems to have accepted this and forfeited this consignment. - However for the offence of misdeclaration, the importer will be liable for penalty u/s 112(a) of the CA, 1962. - AT
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