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...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Revision u/s 263 by CIT - inadequate v/s no enquiry - unsecured loan, difference in stock and late payment of PF & ESI - The Tribunal reviewed each of the contested issues and found that the AO had adequately considered them during the assessment. It observed that the appellant had provided relevant details and explanations, which were duly examined by the AO. As a result, the Tribunal determined that there was no basis for considering the assessment order as erroneous under Section 263.
Revision u/s 263 by CIT - inadequate v/s no enquiry - unsecured loan, difference in stock and late payment of PF & ESI - The Tribunal reviewed each of the contested issues and found that the AO had adequately considered them during the assessment. It observed that the appellant had provided relevant details and explanations, which were duly examined by the AO. As a result, the Tribunal determined that there was no basis for considering the assessment order as erroneous under Section 263.
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