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...
Omission to claim deductions and exemptions in an earlier rectification request was not treated as fatal where the tax position was otherwise supported by Form 16 and Form 26AS. The ITAT applied the principle that tax cannot be collected without authority of law and that the Revenue cannot gain from an assessee's ignorance. As the records reflected TDS and advance tax payments, the assessee was given a further opportunity to produce supporting documents. The matter was remitted to the Assessing Officer for de novo assessment and fresh consideration of the claimed deductions, exemptions and tax credits.
Omission to claim deductions and exemptions in an earlier rectification request was not treated as fatal where the tax position was otherwise supported by Form 16 and Form 26AS. The ITAT applied the principle that tax cannot be collected without authority of law and that the Revenue cannot gain from an assessee's ignorance. As the records reflected TDS and advance tax payments, the assessee was given a further opportunity to produce supporting documents. The matter was remitted to the Assessing Officer for de novo assessment and fresh consideration of the claimed deductions, exemptions and tax credits.
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