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...
Section 80IB deduction denied due to non-completion of project within stipulated period u/s 80IB(10) by 31.03.2008 and commercial construction exceeding limit under clause (d). Amendment via Finance Act 2004 from 01.04.2005 imposed new conditions for deduction for projects approved and commenced prior to 01.04.2005. Condition restricting commercial space is impossible if project at advanced stage per approved plan, but completion timeline reasonable with over three years allowed post amendment. Projects approved after 01.04.2005 also have four-year completion period. Issue of completion certificate requirement sub-judice before Supreme Court, remanded for fresh adjudication as per provisions at project approval, subject to judgments. Commercial area exceeding prescribed limit allowed if approved by local authority, verified against sanction plan. Matter remanded to assess commercial area conformity with approved plan. Appeals allowed for statistical purposes.
Section 80IB deduction denied due to non-completion of project within stipulated period u/s 80IB(10) by 31.03.2008 and commercial construction exceeding limit under clause (d). Amendment via Finance Act 2004 from 01.04.2005 imposed new conditions for deduction for projects approved and commenced prior to 01.04.2005. Condition restricting commercial space is impossible if project at advanced stage per approved plan, but completion timeline reasonable with over three years allowed post amendment. Projects approved after 01.04.2005 also have four-year completion period. Issue of completion certificate requirement sub-judice before Supreme Court, remanded for fresh adjudication as per provisions at project approval, subject to judgments. Commercial area exceeding prescribed limit allowed if approved by local authority, verified against sanction plan. Matter remanded to assess commercial area conformity with approved plan. Appeals allowed for statistical purposes.
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