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 delayed duplicate TDS re-deposit was treated as a real revenue loss because the second payment, though made under mistake, was beyond time and the payee had already availed credit; the levy of interest was therefore sustained. By contrast, where the assessee had already deposited TDS and filed Form 26QB within time, the later filing was only a mistaken duplication and not an original default in furnishing the statement; late fee under section 234E was therefore deleted. The appeal was partly allowed.
A delayed duplicate TDS re-deposit was treated as a real revenue loss because the second payment, though made under mistake, was beyond time and the payee had already availed credit; the levy of interest was therefore sustained. By contrast, where the assessee had already deposited TDS and filed Form 26QB within time, the later filing was only a mistaken duplication and not an original default in furnishing the statement; late fee under section 234E was therefore deleted. The appeal was partly allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4813 
Join Channel 
