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...
Foreign tax credit claim for doubly taxed foreign sourced salary income was denied due to belated filing of Form No. 67. The Tribunal allowed the assessee's claim, following its coordinate bench rulings granting relief in similar cases. The Departmental Representative failed to distinguish the cited judgments or provide cogent arguments for a contrary view. Consequently, the Tribunal held that the assessee is entitled to foreign tax credit irrespective of the belated Form No. 67 filing, allowing all grounds raised.
Foreign tax credit claim for doubly taxed foreign sourced salary income was denied due to belated filing of Form No. 67. The Tribunal allowed the assessee's claim, following its coordinate bench rulings granting relief in similar cases. The Departmental Representative failed to distinguish the cited judgments or provide cogent arguments for a contrary view. Consequently, the Tribunal held that the assessee is entitled to foreign tax credit irrespective of the belated Form No. 67 filing, allowing all grounds raised.
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