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...
Assessment reopening beyond 4 years from end of assessment year not permissible as no failure by assessee to disclose material facts. Deduction u/s 80IB(11A) allowed for manufacturing potato chips/snacks as it constitutes processing of vegetable as per judicial precedents from Madras, Uttarakhand High Courts and ITAT decisions. Revenue's appeal dismissed, CIT(A)'s order upholding assessee's claim affirmed.
Assessment reopening beyond 4 years from end of assessment year not permissible as no failure by assessee to disclose material facts. Deduction u/s 80IB(11A) allowed for manufacturing potato chips/snacks as it constitutes processing of vegetable as per judicial precedents from Madras, Uttarakhand High Courts and ITAT decisions. Revenue's appeal dismissed, CIT(A)'s order upholding assessee's claim affirmed.
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