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...
Addition u/s 56(2)(x) - sale of flats - difference between the value taken by the assessee and the fair market value (FMV) u/s 50C - The ITAT found that the value adopted by the assessee and the FMV of the flats under Section 50C were within the range of ±10%, thus the provisions of Section 56(2)(x) did not apply. - Following the earlier decisions, the Tribunal deleted the additions.
Addition u/s 56(2)(x) - sale of flats - difference between the value taken by the assessee and the fair market value (FMV) u/s 50C - The ITAT found that the value adopted by the assessee and the FMV of the flats under Section 50C were within the range of ±10%, thus the provisions of Section 56(2)(x) did not apply. - Following the earlier decisions, the Tribunal deleted the additions.
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