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...
Addition of agricultural income as unexplained income - No agriculture activities can be said to be done. Further, in the form No. 7/12, there is no details of farming being done by the assessee and the nature of the crops, and the quantification of the land, has not been mentioned. - Additions confirmed - However, AO directed to make a disallowance to the extent of 25% of the expenditure on account of earning of agriculture income and pass an order accordingly - AT
Addition of agricultural income as unexplained income - No agriculture activities can be said to be done. Further, in the form No. 7/12, there is no details of farming being done by the assessee and the nature of the crops, and the quantification of the land, has not been mentioned. - Additions confirmed - However, AO directed to make a disallowance to the extent of 25% of the expenditure on account of earning of agriculture income and pass an order accordingly - AT
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