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...
Inadvertent error by bank officials ignoring restraint orders led to FIR against bank officials for offences under IPC provisions. Continuation of criminal proceedings questioned. Held: FIR did not show bank induced anyone fraudulently or dishonestly, lacking mens rea required for offences u/ss 420, 406, 409, 462 IPC. No entrustment of property misappropriated by bank. Sections 206, 217, 201 IPC requiring mens rea not applicable. No common intention or cooperation by bank in alleged offences, hence Sections 34, 37, 120B IPC inapplicable. Case falls under categories exempting quashing per Bhajan Lal case. Continuation would cause undue hardship. High Court order quashed.
Inadvertent error by bank officials ignoring restraint orders led to FIR against bank officials for offences under IPC provisions. Continuation of criminal proceedings questioned. Held: FIR did not show bank induced anyone fraudulently or dishonestly, lacking mens rea required for offences u/ss 420, 406, 409, 462 IPC. No entrustment of property misappropriated by bank. Sections 206, 217, 201 IPC requiring mens rea not applicable. No common intention or cooperation by bank in alleged offences, hence Sections 34, 37, 120B IPC inapplicable. Case falls under categories exempting quashing per Bhajan Lal case. Continuation would cause undue hardship. High Court order quashed.
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