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 Supreme Court considered a case involving condonation of delay in filing an appeal. The appellants filed the appeal after SEBI had already appealed to the Court against the Securities Appellate Tribunal's order. The Court noted that the appellants succeeded on one issue but a remand order was issued on another issue to the Whole Time Member by SAT. The appellants stated that they had complied with the requirement to file submissions but no hearing took place before the Whole Time Member. Given the situation and the appeal filed by SEBI, the Court decided to condone the delay and issued notice in the matter.
The Supreme Court considered a case involving condonation of delay in filing an appeal. The appellants filed the appeal after SEBI had already appealed to the Court against the Securities Appellate Tribunal's order. The Court noted that the appellants succeeded on one issue but a remand order was issued on another issue to the Whole Time Member by SAT. The appellants stated that they had complied with the requirement to file submissions but no hearing took place before the Whole Time Member. Given the situation and the appeal filed by SEBI, the Court decided to condone the delay and issued notice in the matter.
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