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...
Reopening of assessment was upheld where the assessing officer formed a prima facie belief of income escapement after examining return and investigation material; sufficiency of reasons requires relevant material and a rational connection and need not be a prior detailed inquiry. Payments made to an accommodation/entry provider were treated as unexplained expenditure taxable in the year of payment under the unexplained money regime rather than purchases of earlier years. The omission to cite the specific statutory provision in the assessment order was held immaterial where the assessee was repeatedly informed of the nature and tax consequences of the payment.
Reopening of assessment was upheld where the assessing officer formed a prima facie belief of income escapement after examining return and investigation material; sufficiency of reasons requires relevant material and a rational connection and need not be a prior detailed inquiry. Payments made to an accommodation/entry provider were treated as unexplained expenditure taxable in the year of payment under the unexplained money regime rather than purchases of earlier years. The omission to cite the specific statutory provision in the assessment order was held immaterial where the assessee was repeatedly informed of the nature and tax consequences of the payment.
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