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...
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A High Court held that a Dispute Resolution Panel direction was binding and could not be ignored by the Assessing Officer. Because no departmental appeal had been filed on the earlier years' issue, the addition made under section 40(a)(i) was contrary to the DRP's clear mandate and could not be sustained. The Court therefore exercised writ jurisdiction to quash the demand, including interest, relatable to that addition, despite the availability of an alternate appellate remedy. The remaining transfer pricing adjustment was left open to challenge in the ordinary appeal, with protection against limitation if filed within the time granted.
A High Court held that a Dispute Resolution Panel direction was binding and could not be ignored by the Assessing Officer. Because no departmental appeal had been filed on the earlier years' issue, the addition made under section 40(a)(i) was contrary to the DRP's clear mandate and could not be sustained. The Court therefore exercised writ jurisdiction to quash the demand, including interest, relatable to that addition, despite the availability of an alternate appellate remedy. The remaining transfer pricing adjustment was left open to challenge in the ordinary appeal, with protection against limitation if filed within the time granted.
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