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 allowed the petition and quashed the impugned orders, directing refund of the amount deposited by the petitioner. The court held that interception and seizure of electronic goods on account of a mismatch between the vehicle number in transport documents and the actual conveyance, coupled with non-updation of the e-way bill by the transporter, did not establish mens rea or tax evasion by the petitioner. Physical verification revealed concordant tax-invoice entries and serial numbers with the seized items, and the petitioner had notified the change of vehicle in its reply. In absence of discrepancy in goods or serial numbers, proceedings under section 129(3) could not be sustained against the petitioner.
The HC allowed the petition and quashed the impugned orders, directing refund of the amount deposited by the petitioner. The court held that interception and seizure of electronic goods on account of a mismatch between the vehicle number in transport documents and the actual conveyance, coupled with non-updation of the e-way bill by the transporter, did not establish mens rea or tax evasion by the petitioner. Physical verification revealed concordant tax-invoice entries and serial numbers with the seized items, and the petitioner had notified the change of vehicle in its reply. In absence of discrepancy in goods or serial numbers, proceedings under section 129(3) could not be sustained against the petitioner.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
