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...
Enhancement of Capital Gain - Initially the value was taken as determined by the Sub-Registrar - Later, on objection raised by asessee, matter was referred to DVO - Application of section 50C, since the land is in Dark Zone - DVO has taken excessive rate without considering the average rate per Bigha which is more than double of prevailing Market rate - In addition to cost of boundary wall as taken by the DVO also considered for cost of acquisition - Relief granted to the assessee - AT
Enhancement of Capital Gain - Initially the value was taken as determined by the Sub-Registrar - Later, on objection raised by asessee, matter was referred to DVO - Application of section 50C, since the land is in Dark Zone - DVO has taken excessive rate without considering the average rate per Bigha which is more than double of prevailing Market rate - In addition to cost of boundary wall as taken by the DVO also considered for cost of acquisition - Relief granted to the assessee - AT
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