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...
Availment of wrongful credit - bonafide mistake - The High Court observed that the mistake made by the appellants was inadvertent, and despite the acknowledgment of the error by the adjudicating authority, the demand was confirmed without providing any guidance or assistance to rectify the error. Considering previous legal precedents and the transitional phase of legislation, the court directed the authorities to enable the appellants to rectify the mistake and submit the correct form within a specified timeframe. Additionally, the Nodal Officer of IT Grievance Redressal Mechanism was directed to facilitate the filing process and provide options for manual rectification if necessary.
Availment of wrongful credit - bonafide mistake - The High Court observed that the mistake made by the appellants was inadvertent, and despite the acknowledgment of the error by the adjudicating authority, the demand was confirmed without providing any guidance or assistance to rectify the error. Considering previous legal precedents and the transitional phase of legislation, the court directed the authorities to enable the appellants to rectify the mistake and submit the correct form within a specified timeframe. Additionally, the Nodal Officer of IT Grievance Redressal Mechanism was directed to facilitate the filing process and provide options for manual rectification if necessary.
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