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 ITAT Ahmedabad addressed various issues. On the 40(a)(ia) addition, the assessee failed to provide necessary details justifying deductions disallowed in earlier years due to non-TDS deduction. The Tribunal emphasized the need for supporting documents and allowed deductions on actual payment basis. Regarding u/s 36(1)(va), the Tribunal dismissed the appeal based on a precedent. For unsecured loan waiver, the Tribunal held that waiver of loan is not taxable u/s 28(iv) as it's a cash benefit. The Tribunal directed deletion of the addition u/s 41(1) as neither the AO nor CIT(A) invoked this provision. The assessee was granted another opportunity to present their case before the AO.
The ITAT Ahmedabad addressed various issues. On the 40(a)(ia) addition, the assessee failed to provide necessary details justifying deductions disallowed in earlier years due to non-TDS deduction. The Tribunal emphasized the need for supporting documents and allowed deductions on actual payment basis. Regarding u/s 36(1)(va), the Tribunal dismissed the appeal based on a precedent. For unsecured loan waiver, the Tribunal held that waiver of loan is not taxable u/s 28(iv) as it's a cash benefit. The Tribunal directed deletion of the addition u/s 41(1) as neither the AO nor CIT(A) invoked this provision. The assessee was granted another opportunity to present their case before the AO.
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