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...
Exemption u/s 11 - cancellation of registration granted u/s 12A - As documents which were the basis for concluding that the registration granted in favour of the assessee should be cancelled were not furnished to the assessee. Therefore, the CIT(E) having committed a fundamental error cannot be granted for one more opportunity. Therefore, the tribunal was right in rejecting the prayer for remanding the proceedings and we are also of the view that the question of granting a further opportunity to the CIT(E) on the facts of the case on hand does not arise. - HC
Exemption u/s 11 - cancellation of registration granted u/s 12A - As documents which were the basis for concluding that the registration granted in favour of the assessee should be cancelled were not furnished to the assessee. Therefore, the CIT(E) having committed a fundamental error cannot be granted for one more opportunity. Therefore, the tribunal was right in rejecting the prayer for remanding the proceedings and we are also of the view that the question of granting a further opportunity to the CIT(E) on the facts of the case on hand does not arise. - HC
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