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 High Court held that the reopening of the assessment based on a subsequent judgment that the transaction in question was amenable to tax was impermissible. Once an assessment has become final, it cannot be reopened on the basis of a subsequent judgment of the Supreme Court. The department cannot reopen an assessment that stood closed based on the law prevailing at the relevant time. The reassessment initiated on the basis of a subsequent judgment was rendered a colourable exercise of power and without jurisdiction.
The High Court held that the reopening of the assessment based on a subsequent judgment that the transaction in question was amenable to tax was impermissible. Once an assessment has become final, it cannot be reopened on the basis of a subsequent judgment of the Supreme Court. The department cannot reopen an assessment that stood closed based on the law prevailing at the relevant time. The reassessment initiated on the basis of a subsequent judgment was rendered a colourable exercise of power and without jurisdiction.
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