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...
A High Court held that a beneficial CBDT circular issued under section 119(2)(b) for condonation of delay in filing prescribed forms must be applied to genuine and bona fide cases, even where the assessment year is not expressly named. The court found that the relevant circular was the one dated 18.11.2024, which addressed condonation of delay, and that omission of AY 2023-24 was not decisive because the circular was meant to remedy genuine hardship. Rejecting a narrow year-specific reading as anomalous and unjust, the court set aside the refusal order and remitted the matter for fresh consideration in accordance with law.
A High Court held that a beneficial CBDT circular issued under section 119(2)(b) for condonation of delay in filing prescribed forms must be applied to genuine and bona fide cases, even where the assessment year is not expressly named. The court found that the relevant circular was the one dated 18.11.2024, which addressed condonation of delay, and that omission of AY 2023-24 was not decisive because the circular was meant to remedy genuine hardship. Rejecting a narrow year-specific reading as anomalous and unjust, the court set aside the refusal order and remitted the matter for fresh consideration in accordance with law.
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