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...
Cash deposit during demonetization period treated as unexplained cash credit u/s 68 - CIT(A) sustained addition u/s 69A based on lack of supporting evidence for cash receipts from nursing home. Assessee's claim of maintaining regular books and audit u/s 44AB not sufficient. Tribunal remanded for fresh examination by AO in light of precedent on abnormal cash trails indicating suspicion. Unsecured loan receipts - assessee failed to prove genuineness and creditworthiness of lenders. Remanded to AO for independent enquiry and decision after giving assessee opportunity. Addition as agricultural income - assessee's claim of acceptance in earlier years rejected as res judicata not applicable. Remanded to AO to examine evidence of agricultural income for the year. AO to follow principles of natural justice, fairness and preponderance of probabilities in enquiries.
Cash deposit during demonetization period treated as unexplained cash credit u/s 68 - CIT(A) sustained addition u/s 69A based on lack of supporting evidence for cash receipts from nursing home. Assessee's claim of maintaining regular books and audit u/s 44AB not sufficient. Tribunal remanded for fresh examination by AO in light of precedent on abnormal cash trails indicating suspicion. Unsecured loan receipts - assessee failed to prove genuineness and creditworthiness of lenders. Remanded to AO for independent enquiry and decision after giving assessee opportunity. Addition as agricultural income - assessee's claim of acceptance in earlier years rejected as res judicata not applicable. Remanded to AO to examine evidence of agricultural income for the year. AO to follow principles of natural justice, fairness and preponderance of probabilities in enquiries.
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