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...
Attachment and recovery from a company's bank account was challenged on the ground that the demand and adjudication were issued against a distinct juristic entity. The court held that where the show-cause notice and adjudication order were addressed to another company, the petitioner could not be fastened with that entity's dues absent any garnishee relationship or proved liability to pay amounts to the defaulter. It further held that common directorship alone is insufficient to lift the corporate veil for recovery, and such veil-piercing was impermissible on the pleaded facts. Consequently, the impugned recovery/attachment order was quashed and the petition was allowed with directions to appear before the authority. - HC
Attachment and recovery from a company's bank account was challenged on the ground that the demand and adjudication were issued against a distinct juristic entity. The court held that where the show-cause notice and adjudication order were addressed to another company, the petitioner could not be fastened with that entity's dues absent any garnishee relationship or proved liability to pay amounts to the defaulter. It further held that common directorship alone is insufficient to lift the corporate veil for recovery, and such veil-piercing was impermissible on the pleaded facts. Consequently, the impugned recovery/attachment order was quashed and the petition was allowed with directions to appear before the authority. - HC
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