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...
A rectification grievance under section 154 concerning a return treated as invalid for want of an audit report had to be examined on merits by verifying whether the assessee had any income from business or profession and, if not, whether any audit report was required. The Tribunal found that the authorities had not adjudicated this plea and had instead shifted the matter between CPC and the jurisdictional AO on jurisdictional grounds. The mechanical rejection was set aside, and the matter was restored to the jurisdictional AO for proper verification and consequential relief if the return was wrongly invalidated.
A rectification grievance under section 154 concerning a return treated as invalid for want of an audit report had to be examined on merits by verifying whether the assessee had any income from business or profession and, if not, whether any audit report was required. The Tribunal found that the authorities had not adjudicated this plea and had instead shifted the matter between CPC and the jurisdictional AO on jurisdictional grounds. The mechanical rejection was set aside, and the matter was restored to the jurisdictional AO for proper verification and consequential relief if the return was wrongly invalidated.
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