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...
The court held that the denial of input tax credit to the petitioner by the respondent authority requires reconsideration. The respondent failed to consider the petitioner's contention that the payments for which input tax credit was sought were made against the provisional registration number before the permanent registration number was granted. There were no reasons provided for disallowing such credit to the petitioner. Consequently, the matter was remanded for fresh consideration by the respondent authority.
The court held that the denial of input tax credit to the petitioner by the respondent authority requires reconsideration. The respondent failed to consider the petitioner's contention that the payments for which input tax credit was sought were made against the provisional registration number before the permanent registration number was granted. There were no reasons provided for disallowing such credit to the petitioner. Consequently, the matter was remanded for fresh consideration by the respondent authority.
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