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...
Unexplained money - amount received from his father-in-law - If the CIT(A) was not satisfied with the source, he could have enquired into the matter by issuing notice to the legal representatives of the assessee's father-in-law. Admittedly, no such enquiry was conducted. Therefore, additions could not have been sustained by the CIT(A) based on surmises and incorrect application of law- HC
Unexplained money - amount received from his father-in-law - If the CIT(A) was not satisfied with the source, he could have enquired into the matter by issuing notice to the legal representatives of the assessee's father-in-law. Admittedly, no such enquiry was conducted. Therefore, additions could not have been sustained by the CIT(A) based on surmises and incorrect application of law- HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4798
Join Channel
TaxTMI 
