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...
Dispute concerns entitlement to interest on delayed refund where the assessing officer denied interest by alleging a lapse in claiming TDS in a revised return. The legal principle stated is that exclusion of any period for calculating interest must be determined by the authority designated under the relevant statute; the AO lacks power to unilaterally disallow interest on that ground. The AO's terse finding was treated as erroneous; the appellate authority accepted the taxpayer's explanation regarding Form 26AS and held there was no lapse in claiming the credit.
Dispute concerns entitlement to interest on delayed refund where the assessing officer denied interest by alleging a lapse in claiming TDS in a revised return. The legal principle stated is that exclusion of any period for calculating interest must be determined by the authority designated under the relevant statute; the AO lacks power to unilaterally disallow interest on that ground. The AO's terse finding was treated as erroneous; the appellate authority accepted the taxpayer's explanation regarding Form 26AS and held there was no lapse in claiming the credit.
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