Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Revision jurisdiction was contested where revenue sought to revise an assessment by treating purchases as bogus. Tribunal found the assessing officer had issued statutory notices, conducted inquiries including notices to suppliers, and taken a plausible view after considering submissions; therefore the revisional officer could not substitute that view under the power to correct orders deemed "prejudicial to the interests of the revenue." Clauses in Explanation 2 relied on by the revisional officer were held unsupported by facts or law, the revisional order was set aside, and the appeal decided against the revenue.
Revision jurisdiction was contested where revenue sought to revise an assessment by treating purchases as bogus. Tribunal found the assessing officer had issued statutory notices, conducted inquiries including notices to suppliers, and taken a plausible view after considering submissions; therefore the revisional officer could not substitute that view under the power to correct orders deemed "prejudicial to the interests of the revenue." Clauses in Explanation 2 relied on by the revisional officer were held unsupported by facts or law, the revisional order was set aside, and the appeal decided against the revenue.
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