Imported menthol-scented sweet supari classification dispute: seizure quashed, release for home consumption subject to duty bond; bank guarantee refus...
CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Disallowance of construction cost for capital gains was overturned where the assessee produced the contractor's confirmation, a cost breakup, identity documents and an income-tax return evidencing the contractor's involvement; the AO had not doubted the work but made an ad hoc 50% reduction without identifying any cogent defect in the contractor's confirmation or the breakup. The Tribunal held that the contractor's confirmation and supporting particulars carried evidentiary weight and could not be summarily disregarded, and accordingly deleted the addition arising from the 50% disallowance.
Disallowance of construction cost for capital gains was overturned where the assessee produced the contractor's confirmation, a cost breakup, identity documents and an income-tax return evidencing the contractor's involvement; the AO had not doubted the work but made an ad hoc 50% reduction without identifying any cogent defect in the contractor's confirmation or the breakup. The Tribunal held that the contractor's confirmation and supporting particulars carried evidentiary weight and could not be summarily disregarded, and accordingly deleted the addition arising from the 50% disallowance.
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