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...
HC considered a case u/s 50 of Black Money Act for non-disclosure of foreign assets and false statements by petitioners, office bearers of British Companies. Act enforced in 2015, but petitioners assessed in 2018. Prosecution u/s 50 & 52 initiated. Petitioners argued Companies closed pre-Act, so prosecution invalid. HC held prosecution unconstitutional u/s Article 20 as Act retroactively applied to pre-Act conduct. Special Act must comply with Article 20, fundamental right, and failed here, leading to dismissal of charges.
HC considered a case u/s 50 of Black Money Act for non-disclosure of foreign assets and false statements by petitioners, office bearers of British Companies. Act enforced in 2015, but petitioners assessed in 2018. Prosecution u/s 50 & 52 initiated. Petitioners argued Companies closed pre-Act, so prosecution invalid. HC held prosecution unconstitutional u/s Article 20 as Act retroactively applied to pre-Act conduct. Special Act must comply with Article 20, fundamental right, and failed here, leading to dismissal of charges.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
