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...
Petitioner filed application seeking sanction of eligible refund amount along with applicable interest. Court held that respondent shall process petitioner's application within two weeks and refund applicable amount. Petitioner may be required to complete certain formalities and file application for receiving amount in cash, if found due, which petitioner must comply with. If petitioner is required to comply with any formalities, respondent shall intimate the same. Any delay in complying with formalities shall not impede petitioner's application for refund. Petition disposed.
Petitioner filed application seeking sanction of eligible refund amount along with applicable interest. Court held that respondent shall process petitioner's application within two weeks and refund applicable amount. Petitioner may be required to complete certain formalities and file application for receiving amount in cash, if found due, which petitioner must comply with. If petitioner is required to comply with any formalities, respondent shall intimate the same. Any delay in complying with formalities shall not impede petitioner's application for refund. Petition disposed.
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