Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Section 79 did not bar the set off of brought forward business losses where the persons beneficially holding more than 51% of the voting power continued to hold that voting power on the relevant date; on the uncontroverted facts, the disqualifying change in shareholding was absent and the Revenue's challenge failed. An appellate authority could also entertain a lawful additional depreciation claim raised through a revised computation, because the restriction in Goetze (India) Ltd. applies only to the Assessing Officer and does not limit appellate powers. The Tribunal upheld allowance of both claims and dismissed the Revenue's appeal.
Section 79 did not bar the set off of brought forward business losses where the persons beneficially holding more than 51% of the voting power continued to hold that voting power on the relevant date; on the uncontroverted facts, the disqualifying change in shareholding was absent and the Revenue's challenge failed. An appellate authority could also entertain a lawful additional depreciation claim raised through a revised computation, because the restriction in Goetze (India) Ltd. applies only to the Assessing Officer and does not limit appellate powers. The Tribunal upheld allowance of both claims and dismissed the Revenue's appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4823 
Join Channel 
