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...
Explanation 3 to Section 43(1) is a deeming provision that can be invoked only after the assessing officer records satisfaction that the transfer's dominant purpose was reduction of tax liability and obtains prior approval of the Joint Commissioner; both conditions are mandatory and the burden of proof is on Revenue, so substituting the assessee's declared cost for second hand machinery was legally unsustainable and depreciation was allowed. Separately, a notice under section 143(2) issued within time is not vitiated merely because it omitted the scrutiny category where the assessee participated and no prejudice was shown, so the challenge to the notice failed.
Explanation 3 to Section 43(1) is a deeming provision that can be invoked only after the assessing officer records satisfaction that the transfer's dominant purpose was reduction of tax liability and obtains prior approval of the Joint Commissioner; both conditions are mandatory and the burden of proof is on Revenue, so substituting the assessee's declared cost for second hand machinery was legally unsustainable and depreciation was allowed. Separately, a notice under section 143(2) issued within time is not vitiated merely because it omitted the scrutiny category where the assessee participated and no prejudice was shown, so the challenge to the notice failed.
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