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...
Dishonour of cheque due to insufficient funds - no vicarious liability u/s 141 NI Act. Petitioner not shown as partner in firm through certificate from Deputy Registrar of Firms. Cheque issued by firm, signed by Sh. Hoshiyar Singh, not petitioner. No evidence petitioner was partner or signatory. Forcing petitioner to stand trial solely on unsubstantiated averment would be abuse of process. Petition allowed considering factual matrix and unimpeachable material presented by petitioner.
Dishonour of cheque due to insufficient funds - no vicarious liability u/s 141 NI Act. Petitioner not shown as partner in firm through certificate from Deputy Registrar of Firms. Cheque issued by firm, signed by Sh. Hoshiyar Singh, not petitioner. No evidence petitioner was partner or signatory. Forcing petitioner to stand trial solely on unsubstantiated averment would be abuse of process. Petition allowed considering factual matrix and unimpeachable material presented by petitioner.
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