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...
The High Court considered a revision u/s 264 where the Principal Commissioner of Income Tax (Pr. CIT) dismissed the application without proper procedural fairness. The petitioner claimed no prior notice or opportunity to respond was given. The Court found the order lacked fairness as the petitioner's representation was not considered, and no reason was given for denying an adjournment. The order did not explain the basis for upholding the Assessing Officer's decision. The Court emphasized the importance of adhering to natural justice principles. The impugned order was set aside, and a rehearing was directed with the petitioner required to appear before the Pr. CIT on a specified date.
The High Court considered a revision u/s 264 where the Principal Commissioner of Income Tax (Pr. CIT) dismissed the application without proper procedural fairness. The petitioner claimed no prior notice or opportunity to respond was given. The Court found the order lacked fairness as the petitioner's representation was not considered, and no reason was given for denying an adjournment. The order did not explain the basis for upholding the Assessing Officer's decision. The Court emphasized the importance of adhering to natural justice principles. The impugned order was set aside, and a rehearing was directed with the petitioner required to appear before the Pr. CIT on a specified date.
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