Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
HC held that ex-parte order violated principles of natural justice by failing to serve show cause notice to the petitioner, thereby denying opportunity of being heard. Strict interpretation of tax statutes mandates procedural compliance, particularly regarding personal hearing requirements. The court emphasized that penal statutes affecting individual rights must be construed narrowly to prevent arbitrary decision-making. Consequently, the impugned order was declared unsustainable, and the petitioner was directed to be afforded a fresh opportunity to present its case before the competent authority.
HC held that ex-parte order violated principles of natural justice by failing to serve show cause notice to the petitioner, thereby denying opportunity of being heard. Strict interpretation of tax statutes mandates procedural compliance, particularly regarding personal hearing requirements. The court emphasized that penal statutes affecting individual rights must be construed narrowly to prevent arbitrary decision-making. Consequently, the impugned order was declared unsustainable, and the petitioner was directed to be afforded a fresh opportunity to present its case before the competent authority.
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