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...
Excess stock found during survey triggered initiation of proceedings against petitioner. Court held if excess stock found, proceedings u/ss 73/74 of GST Act should be invoked, not Section 130 read with Rule 120. Court relied on previous judgment holding excess stock attracts Sections 73 & 74, not Section 130 read with Rule 122. Law is clear Section 130 proceedings cannot be initiated if excess stock found during survey. Impugned orders invoking Section 130 quashed, petition allowed.
Excess stock found during survey triggered initiation of proceedings against petitioner. Court held if excess stock found, proceedings u/ss 73/74 of GST Act should be invoked, not Section 130 read with Rule 120. Court relied on previous judgment holding excess stock attracts Sections 73 & 74, not Section 130 read with Rule 122. Law is clear Section 130 proceedings cannot be initiated if excess stock found during survey. Impugned orders invoking Section 130 quashed, petition allowed.
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