Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
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The Delhi High Court examined the constitutional validity of an amendment in the Income Tax Act, 1961, specifically u/s 31 of the Finance Act, 2017. The petitioner challenged the retrospective operation of the amendment which capped set-off of losses from house property income at ₹2 lakh. The court held that the legislative competency was not in question, and the amendment did not violate Article 14 of the Constitution as it applied uniformly to all taxpayers. The court also found that the restriction on set-off was a reasonable measure to prevent abuse of provisions. The petitioner's argument u/A 19(1)(g) was rejected as the restriction was proportionate and did not unreasonably curtail rights. The court cited precedent to support the legislature's wide discretion in fiscal matters. The petitioner's claim of promissory estoppel was dismissed. Ultimately, the court upheld the constitutionality of the amendment, ruling against the petitioner's arguments.
The Delhi High Court examined the constitutional validity of an amendment in the Income Tax Act, 1961, specifically u/s 31 of the Finance Act, 2017. The petitioner challenged the retrospective operation of the amendment which capped set-off of losses from house property income at ₹2 lakh. The court held that the legislative competency was not in question, and the amendment did not violate Article 14 of the Constitution as it applied uniformly to all taxpayers. The court also found that the restriction on set-off was a reasonable measure to prevent abuse of provisions. The petitioner's argument u/A 19(1)(g) was rejected as the restriction was proportionate and did not unreasonably curtail rights. The court cited precedent to support the legislature's wide discretion in fiscal matters. The petitioner's claim of promissory estoppel was dismissed. Ultimately, the court upheld the constitutionality of the amendment, ruling against the petitioner's arguments.
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