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...
Recovery of service tax alongwith interest and penalties - Sundry Debtors/ amounts realizable appearing in Balance Sheet The Tribunal agreed with the appellant that sundry debtors should not be considered as taxable income until realized, as per accounting norms and legal precedents. - It concluded that the demand for service tax based on unrealized receivables was unfounded.
Recovery of service tax alongwith interest and penalties - Sundry Debtors/ amounts realizable appearing in Balance Sheet The Tribunal agreed with the appellant that sundry debtors should not be considered as taxable income until realized, as per accounting norms and legal precedents. - It concluded that the demand for service tax based on unrealized receivables was unfounded.
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