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...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Initiation of proceedings of reassessment - pendency of proceedings under the Act do not exist - after more than 7 years, on the basis of objection of audit para, the authority concerned had initiated the proceedings of reassessment by invoking the provision of Section 34 (8A) of the VAT Act. The pre-condition for invoking the provision of Section 34 (8A) of the Act is that, there must be a pendency of proceedings under the Act, which does not fulfill in the present case. - HC
Initiation of proceedings of reassessment - pendency of proceedings under the Act do not exist - after more than 7 years, on the basis of objection of audit para, the authority concerned had initiated the proceedings of reassessment by invoking the provision of Section 34 (8A) of the VAT Act. The pre-condition for invoking the provision of Section 34 (8A) of the Act is that, there must be a pendency of proceedings under the Act, which does not fulfill in the present case. - HC
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