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...
DSC grants bail to accused V.G. and R.D. in tax credit case, finding insufficient evidence of direct involvement. Court noted lack of concrete proof beyond recorded statements, considered accused's 25% and 7% alleged benefit shares are below Rs.5 crore threshold. Accused in custody for 25 days, no further interrogation required. Bail granted on Rs.50,000 personal bond with surety, emphasizing proportionality between alleged offense and prolonged detention. Release orders issued immediately, without commenting on case merits. Procedural arrest requirements deemed satisfied.
DSC grants bail to accused V.G. and R.D. in tax credit case, finding insufficient evidence of direct involvement. Court noted lack of concrete proof beyond recorded statements, considered accused's 25% and 7% alleged benefit shares are below Rs.5 crore threshold. Accused in custody for 25 days, no further interrogation required. Bail granted on Rs.50,000 personal bond with surety, emphasizing proportionality between alleged offense and prolonged detention. Release orders issued immediately, without commenting on case merits. Procedural arrest requirements deemed satisfied.
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