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...
Refund of deposit - reversal of ITC - The amount was allegedly recovered from them during search proceedings - The High Court noted that the deposit in this case lacked voluntariness and contravened CBIC Instructions which prohibits coercive recovery during search proceedings. - Therefore, the court directed the respondents to refund the amount so recovered along with statutory interest @ 6% p.a. from the date of deposit till repayment, within four weeks.
Refund of deposit - reversal of ITC - The amount was allegedly recovered from them during search proceedings - The High Court noted that the deposit in this case lacked voluntariness and contravened CBIC Instructions which prohibits coercive recovery during search proceedings. - Therefore, the court directed the respondents to refund the amount so recovered along with statutory interest @ 6% p.a. from the date of deposit till repayment, within four weeks.
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