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 u/s 153A - Unexplained investment in hotel construction rejected as the material found during search pertained to another person, not the assessee. CIT(A) had rightly deleted the addition, as income from such investment is assessable in the hands of the partnership firm. Undisclosed income from Garden Mahaveer Paradise - CIT(A) order upholding deletion of addition affirmed after examining assessment order, documents, and submissions. Unexplained investment u/s 69 for residential property - Assessee engaged in construction material business, utilized contacts to reduce costs by 10%. No discrepancy pointed out in registered valuer's report. AO made addition without considering objections. CIT(A) allowed assessee's ground based on assessment order, documents, and reasoned order. Scope of incriminating documents - Only incriminating material, not merely material, can be considered for unabated assessments. No incriminating material found during search, only declared construction bills. CIT(A) rightly allowed assessee's appeal after examining all aspects.
Assessment u/s 153A - Unexplained investment in hotel construction rejected as the material found during search pertained to another person, not the assessee. CIT(A) had rightly deleted the addition, as income from such investment is assessable in the hands of the partnership firm. Undisclosed income from Garden Mahaveer Paradise - CIT(A) order upholding deletion of addition affirmed after examining assessment order, documents, and submissions. Unexplained investment u/s 69 for residential property - Assessee engaged in construction material business, utilized contacts to reduce costs by 10%. No discrepancy pointed out in registered valuer's report. AO made addition without considering objections. CIT(A) allowed assessee's ground based on assessment order, documents, and reasoned order. Scope of incriminating documents - Only incriminating material, not merely material, can be considered for unabated assessments. No incriminating material found during search, only declared construction bills. CIT(A) rightly allowed assessee's appeal after examining all aspects.
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