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...
Penalty u/sec. 271B - assessee had entered into only a single transaction and has bonafide belief that the transaction entered into by her leads to capital gains and not business transaction AO consider the same as business income then it attracts the provisions of section 44AB - since explanation given by the assessee is bonafide and also justified, no penalty can be levied u/s 271B
Penalty u/sec. 271B - assessee had entered into only a single transaction and has bonafide belief that the transaction entered into by her leads to capital gains and not business transaction AO consider the same as business income then it attracts the provisions of section 44AB - since explanation given by the assessee is bonafide and also justified, no penalty can be levied u/s 271B
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