Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
For reopening beyond three years, the statutory threshold under section 149(1)(b) must be met by material showing escaped income of Rs. 50 lakhs or more. The Tribunal held that the reopening was initiated on incorrect or non-existing portal information, because the assessment ultimately treated only Rs. 17,17,597 as unexplained after verification and explanation by the assessee. As the case did not satisfy the extended-limitation condition, it fell within section 149(1)(a) and the notice under section 148 issued beyond three years was invalid. The consequential reassessment order under section 147 read with section 144B was quashed as void ab initio.
For reopening beyond three years, the statutory threshold under section 149(1)(b) must be met by material showing escaped income of Rs. 50 lakhs or more. The Tribunal held that the reopening was initiated on incorrect or non-existing portal information, because the assessment ultimately treated only Rs. 17,17,597 as unexplained after verification and explanation by the assessee. As the case did not satisfy the extended-limitation condition, it fell within section 149(1)(a) and the notice under section 148 issued beyond three years was invalid. The consequential reassessment order under section 147 read with section 144B was quashed as void ab initio.
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