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...
Addition u/s. 68 - apart from identity other ingredients like creditworthiness and genuineness of transaction required to be proved in support of claim u/s. 68 - CIT(A) observed that the AO failed to examine the said lenders u/s. 131 of the Act but however in our opinion the CIT(A) also failed to exercise said jurisdiction by remanding the matter to the file of AO - we deem it proper to remand the issue to the file of CIT(A) for its fresh adjudication. - AT
Addition u/s. 68 - apart from identity other ingredients like creditworthiness and genuineness of transaction required to be proved in support of claim u/s. 68 - CIT(A) observed that the AO failed to examine the said lenders u/s. 131 of the Act but however in our opinion the CIT(A) also failed to exercise said jurisdiction by remanding the matter to the file of AO - we deem it proper to remand the issue to the file of CIT(A) for its fresh adjudication. - AT
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