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...
Validity of Arbitral Award - dishonor of cheque - Claim u/s 18 of the Limitation Act, 1963, a fresh period of limitation - Admittedly, in this case the respondent was granted 45 days credit period for making payment of each invoice. The claimant though urged before this Court vehemently that the respondent having issued a cheque of ₹ 50 lakhs, which was dishonored, the entire outstanding claim under various invoices stood revived on the ground that there was fresh period of limitation under section 18 of the Limitation Act, the claimant having exercised the option under section 60 of the Indian Contract Act, no such inconsistent plea can be permitted. - HC
Validity of Arbitral Award - dishonor of cheque - Claim u/s 18 of the Limitation Act, 1963, a fresh period of limitation - Admittedly, in this case the respondent was granted 45 days credit period for making payment of each invoice. The claimant though urged before this Court vehemently that the respondent having issued a cheque of ₹ 50 lakhs, which was dishonored, the entire outstanding claim under various invoices stood revived on the ground that there was fresh period of limitation under section 18 of the Limitation Act, the claimant having exercised the option under section 60 of the Indian Contract Act, no such inconsistent plea can be permitted. - HC
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