Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
A revised return validly filed on discovery of bona fide omissions under section 139(5) supplants the original return for all assessment purposes, so the original computation cannot be treated as surviving separately for depreciation. The Court held that the revised return here was not a mere change in depreciation mode but also corrected omitted claims, and there was no mala fide intent. It further held that Rule 5(1A) is directory, but the option to switch from SLM to WDV cannot extend the statutory due date under section 139(1). Since the revised return replaced the original and the depreciation option was otherwise within the year concerned, the assessee was allowed to adopt WDV and the revenue's challenge failed.
A revised return validly filed on discovery of bona fide omissions under section 139(5) supplants the original return for all assessment purposes, so the original computation cannot be treated as surviving separately for depreciation. The Court held that the revised return here was not a mere change in depreciation mode but also corrected omitted claims, and there was no mala fide intent. It further held that Rule 5(1A) is directory, but the option to switch from SLM to WDV cannot extend the statutory due date under section 139(1). Since the revised return replaced the original and the depreciation option was otherwise within the year concerned, the assessee was allowed to adopt WDV and the revenue's challenge failed.
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