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...
Cancellation of allotment of land on the basis of an alleged false affidavit - Hindu Undivided Family (HUF) property - the petitioner argued that the Defence Colony property, previously owned by him, was absorbed into the HUF before the acquisition of his land in Yakootpur, rendering him eligible for an alternate plot - The court rejected the petitioner's contention that the property being in the HUF's name exempted him from disclosure, underscoring that an HUF and its members hold collective ownership of its properties. Consequently, the court held that the petitioner's failure to disclose his interest in the Defence Colony property, irrespective of its HUF status, disqualified him from the allotment under the scheme.
Cancellation of allotment of land on the basis of an alleged false affidavit - Hindu Undivided Family (HUF) property - the petitioner argued that the Defence Colony property, previously owned by him, was absorbed into the HUF before the acquisition of his land in Yakootpur, rendering him eligible for an alternate plot - The court rejected the petitioner's contention that the property being in the HUF's name exempted him from disclosure, underscoring that an HUF and its members hold collective ownership of its properties. Consequently, the court held that the petitioner's failure to disclose his interest in the Defence Colony property, irrespective of its HUF status, disqualified him from the allotment under the scheme.
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