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...
The HC set aside an ex-parte assessment order under Section 74 for lack of reasoning and violation of natural justice principles. The petitioner challenged the assessment arising from a typographical error in their return where a decimal point was inadvertently omitted. The impugned order merely recorded issuance of show cause notice DRC-01A and absence of reply on the online portal, leading to ex-parte proceedings. However, the order failed to establish requisite findings of fraud, willful misstatement, or suppression of facts necessary for invoking Section 74. The HC found the order unsustainable due to absence of detailed reasoning and remitted the matter to the proper officer for re-adjudication in accordance with law.
The HC set aside an ex-parte assessment order under Section 74 for lack of reasoning and violation of natural justice principles. The petitioner challenged the assessment arising from a typographical error in their return where a decimal point was inadvertently omitted. The impugned order merely recorded issuance of show cause notice DRC-01A and absence of reply on the online portal, leading to ex-parte proceedings. However, the order failed to establish requisite findings of fraud, willful misstatement, or suppression of facts necessary for invoking Section 74. The HC found the order unsustainable due to absence of detailed reasoning and remitted the matter to the proper officer for re-adjudication in accordance with law.
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