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...
Deduction u/s 35AB allowed for acquiring technical know-how for business use, even if manufacturing facility not commenced during the year. Net incomes not derived from industrial undertaking excluded while computing deductions u/ss 80HH and 80I. Interest on insurance claims, truck hiring charges, and rent treated as derived from industrial undertaking for Section 80I deduction. Miscellaneous income like commission, discounts, wastage sales, and diesel sales considered as derived from industrial undertaking for Section 80I deduction. Technical know-how fees deduction u/s 35AB confirmed. Deduction u/s 80HHC to be recomputed after excluding sales tax and excise duty from turnover, following Supreme Court decision in Lakshmi Machine Works case.
Deduction u/s 35AB allowed for acquiring technical know-how for business use, even if manufacturing facility not commenced during the year. Net incomes not derived from industrial undertaking excluded while computing deductions u/ss 80HH and 80I. Interest on insurance claims, truck hiring charges, and rent treated as derived from industrial undertaking for Section 80I deduction. Miscellaneous income like commission, discounts, wastage sales, and diesel sales considered as derived from industrial undertaking for Section 80I deduction. Technical know-how fees deduction u/s 35AB confirmed. Deduction u/s 80HHC to be recomputed after excluding sales tax and excise duty from turnover, following Supreme Court decision in Lakshmi Machine Works case.
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