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 Assessing Officer's failure to frame a draft assessment order and directly passing a final order was violative of the mandatory provisions of Section 144C, rendering the final order a nullity. The court emphasized that it was imperative for the Assessing Officer to frame an order in draft before issuing the final assessment order. Regarding the limitation period u/s 153, the court clarified that it cannot enlarge or expand the statutorily prescribed period for completing the assessment. The court found it unnecessary to examine additional challenges raised against the final assessment orders since the assessment period had expired. Consequently, the writ petitions were allowed.
The High Court held that the Assessing Officer's failure to frame a draft assessment order and directly passing a final order was violative of the mandatory provisions of Section 144C, rendering the final order a nullity. The court emphasized that it was imperative for the Assessing Officer to frame an order in draft before issuing the final assessment order. Regarding the limitation period u/s 153, the court clarified that it cannot enlarge or expand the statutorily prescribed period for completing the assessment. The court found it unnecessary to examine additional challenges raised against the final assessment orders since the assessment period had expired. Consequently, the writ petitions were allowed.
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