Customs valuation and import permissibility conflict resolved: accepted enhancement of transaction value removes liability for confiscation and penalt...
Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
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The primary issue was whether filing an incorrect return form (ITR-7 instead of ITR-5) automatically disentitles an assessee to lawful business expenditure; the tribunal held procedural defect cannot defeat substantive rights, reasoning that taxable liability is confined to lawful tax and disclosed, explained expenditures cannot be disallowed solely for form error, and mandatory registration under sections 11/12 was inapplicable here - consequence: impugned order set aside, appeal allowed; the assessee directed to file financials per ITR-5 and the AO ordered to re-open and complete assessment de novo after hearing. - ITAT
The primary issue was whether filing an incorrect return form (ITR-7 instead of ITR-5) automatically disentitles an assessee to lawful business expenditure; the tribunal held procedural defect cannot defeat substantive rights, reasoning that taxable liability is confined to lawful tax and disclosed, explained expenditures cannot be disallowed solely for form error, and mandatory registration under sections 11/12 was inapplicable here - consequence: impugned order set aside, appeal allowed; the assessee directed to file financials per ITR-5 and the AO ordered to re-open and complete assessment de novo after hearing. - ITAT
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