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...
Exemption u/s 11 - assessment of trust - accumulation of income - The AO and CIT(A) disallowed this accumulation, arguing that it was not for a specific purpose and was merely a reiteration of the trust's broad objectives. - The tribunal held that, the accumulation of income by the trust for its stated purposes was in line with the objectives of the trust and thus allowed the accumulation under section 11(2) of the Act.
Exemption u/s 11 - assessment of trust - accumulation of income - The AO and CIT(A) disallowed this accumulation, arguing that it was not for a specific purpose and was merely a reiteration of the trust's broad objectives. - The tribunal held that, the accumulation of income by the trust for its stated purposes was in line with the objectives of the trust and thus allowed the accumulation under section 11(2) of the Act.
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