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...
Unexplained money u/s. 69A - As pleaded that the amount lying with the parents of smaller amounts has also been deposited in the bank account of the assessee. Even discarding this pleading, since the withdrawals and the amounts declared u/s.10(23)(c) in the returned income adequately proves the sources of cash deposits, no addition in this case is warranted - AT
Unexplained money u/s. 69A - As pleaded that the amount lying with the parents of smaller amounts has also been deposited in the bank account of the assessee. Even discarding this pleading, since the withdrawals and the amounts declared u/s.10(23)(c) in the returned income adequately proves the sources of cash deposits, no addition in this case is warranted - AT
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