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 technical defect in the CBDT-prescribed format of notice under section 143(2) was held insufficient, by itself, to invalidate the assessment, as the format instruction was not binding on the Tribunal. On merits, cash receipts arising from accepted sales and recorded trade debtors could not be treated as unexplained money under section 69A where the books, sale bills and purchase records showed genuine business transactions; an addition based only on the cash-sales-to-cash-deposit ratio during demonetisation was rejected, and double taxation of the same business receipts was impermissible. The Tribunal also held that section 68 could not be invoked for credits representing realisation of existing trade debtors, not fresh loans or advances, so that addition was deleted.
A technical defect in the CBDT-prescribed format of notice under section 143(2) was held insufficient, by itself, to invalidate the assessment, as the format instruction was not binding on the Tribunal. On merits, cash receipts arising from accepted sales and recorded trade debtors could not be treated as unexplained money under section 69A where the books, sale bills and purchase records showed genuine business transactions; an addition based only on the cash-sales-to-cash-deposit ratio during demonetisation was rejected, and double taxation of the same business receipts was impermissible. The Tribunal also held that section 68 could not be invoked for credits representing realisation of existing trade debtors, not fresh loans or advances, so that addition was deleted.
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