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...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Where registered sale deeds were cancelled and consideration reversed but those documents were not placed before the assessing officer during assessment proceedings, cancelled transactions were treated as not giving rise to taxable income. The document stresses that evidence of cancellation and reversal, when first produced only before the court, defeats assessment orders premised on the original transactions. The assessing officer's failure to consider cancellation and reversal rendered impugned assessment orders unsustainable, resulting in quashing and setting aside of those orders and disposal in light of the cited precedent.
Where registered sale deeds were cancelled and consideration reversed but those documents were not placed before the assessing officer during assessment proceedings, cancelled transactions were treated as not giving rise to taxable income. The document stresses that evidence of cancellation and reversal, when first produced only before the court, defeats assessment orders premised on the original transactions. The assessing officer's failure to consider cancellation and reversal rendered impugned assessment orders unsustainable, resulting in quashing and setting aside of those orders and disposal in light of the cited precedent.
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