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...
Disallowance of freight expenditure u/s 40A(3) paid in Cash - As enhanced limit of ₹ 35,000/- is applicable for the payment to the transport operators and in other cases the limit of payment remains at ₹ 20,000/-. Therefore, there is no ambiguity in the provision of Section 40A(3) and third proviso as well as the explanatory note issue by CBDT. Accordingly, in view of the third proviso to Section 40A(3), the payment made in cash to the transport operators which is less than ₹ 35,000/- would not attract this proviso of section 40A(3) - AT
Disallowance of freight expenditure u/s 40A(3) paid in Cash - As enhanced limit of ₹ 35,000/- is applicable for the payment to the transport operators and in other cases the limit of payment remains at ₹ 20,000/-. Therefore, there is no ambiguity in the provision of Section 40A(3) and third proviso as well as the explanatory note issue by CBDT. Accordingly, in view of the third proviso to Section 40A(3), the payment made in cash to the transport operators which is less than ₹ 35,000/- would not attract this proviso of section 40A(3) - AT
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