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...
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Process amounting to manufacture or not - activity of “labelling or relabeling, declaration by affixing fresh Maximum Retail Price (MRP) stickers” on each unit pack, by altering the retail price stickers already affixed on the watches - The tribunal concluded that relabeling and affixing new MRP stickers do not amount to manufacture. It relied on precedents stating that such activities, not enhancing the goods' marketability, do not meet the manufacture criteria under the Excise Act. - The tribunal supported the appellants' view that Section 2(f)(iii) does not apply to goods manufactured under ABE, as applying the concept of deemed manufacture to such goods would counteract the exemption's intent.
Process amounting to manufacture or not - activity of “labelling or relabeling, declaration by affixing fresh Maximum Retail Price (MRP) stickers” on each unit pack, by altering the retail price stickers already affixed on the watches - The tribunal concluded that relabeling and affixing new MRP stickers do not amount to manufacture. It relied on precedents stating that such activities, not enhancing the goods' marketability, do not meet the manufacture criteria under the Excise Act. - The tribunal supported the appellants' view that Section 2(f)(iii) does not apply to goods manufactured under ABE, as applying the concept of deemed manufacture to such goods would counteract the exemption's intent.
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