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 Notice issued u/s 143(2) - Defective return - Removal of defect beyond 15 days u/s 139(9) - AO should have treated the return as non-est when the assessee has not removed the defect within prescribed time of 15 days from the date of issue of the notice. The Assessing Officer has no leverage to extend the time and drag it till the limitation of time to issue notice u/s. 143(2) expires. The notice issued in this case got time barred and the assessment is treated as nullity. - AT
Validity of Notice issued u/s 143(2) - Defective return - Removal of defect beyond 15 days u/s 139(9) - AO should have treated the return as non-est when the assessee has not removed the defect within prescribed time of 15 days from the date of issue of the notice. The Assessing Officer has no leverage to extend the time and drag it till the limitation of time to issue notice u/s. 143(2) expires. The notice issued in this case got time barred and the assessment is treated as nullity. - AT
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