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...
Ineligible input tax credit claims triggered interest for late tax payment and a penalty for late payment; the statute permits a taxpayer to avoid higher penalty by pre-paying tax with interest and a reduced penalty under specified pre-payment options, and notifying the tax authority in writing. The petitioner did not exercise any pre-payment alternative and admitted and credited the tax later, so the assessment confirming tax, interest and penalty was sustained and the writ petition dismissed.
Ineligible input tax credit claims triggered interest for late tax payment and a penalty for late payment; the statute permits a taxpayer to avoid higher penalty by pre-paying tax with interest and a reduced penalty under specified pre-payment options, and notifying the tax authority in writing. The petitioner did not exercise any pre-payment alternative and admitted and credited the tax later, so the assessment confirming tax, interest and penalty was sustained and the writ petition dismissed.
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