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...
Invocation of the extended limitation period under Section 73(1) of the Finance Act, 1994 was held unsustainable because the show-cause notice did not plead or disclose the requisite jurisdictional ingredients (such as suppression or wilful misstatement) and lacked supporting material. Limitation was treated as a jurisdictional fact, requiring satisfaction of both factual and legal elements before extended limitation could be assumed. Since the notice was cryptic, non-speaking, and unreasoned, the authority could not lawfully assume jurisdiction by invoking Section 73(1). Consequently, the show-cause notice and all proceedings pursuant to it were quashed, and the petition was allowed. - HC
Invocation of the extended limitation period under Section 73(1) of the Finance Act, 1994 was held unsustainable because the show-cause notice did not plead or disclose the requisite jurisdictional ingredients (such as suppression or wilful misstatement) and lacked supporting material. Limitation was treated as a jurisdictional fact, requiring satisfaction of both factual and legal elements before extended limitation could be assumed. Since the notice was cryptic, non-speaking, and unreasoned, the authority could not lawfully assume jurisdiction by invoking Section 73(1). Consequently, the show-cause notice and all proceedings pursuant to it were quashed, and the petition was allowed. - HC
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