Transfer of passive infrastructure (PI) assets under a court-approved scheme of demerger without consideration qualified as a gift under Section 47(iii), thereby legitimizing the claim of depreciation on such assets.
Profit arising from purchase and sale of cargo space by a freight forwarder on principal-to-principal basis was trading income and not consideration for service, and therefore not liable to service tax under Business Support Service or otherwise.
Reassessment proceedings was invalid for a notice issued beyond three years without the sanction of the prescribed higher authority as prior approval must mandatorily be obtained from the authorities specified under Section 151(ii) and approval by the Principal Commissioner was not valid in such cases.
Clandestine removal could not be sustained on mere assumptions or third-party statements without corroborative evidence and statutory compliance under Section 9D.
Addition under Section 68 could not be sustained where assessee has established the genuineness of a Non-banking financial company (NBFC) investor, and the AO failed to rebut such evidence or trace any money trail linking the assessee to the invested funds.
Valuation issues alone were not valid grounds for detention of goods in transit in Integrated Goods and Services Tax (IGST) movement, as such matters could not be examined at the stage of interception under Sections 129 and 130.
Interest on customs refund was not automatic and depends on whether there was delay in processing attributable to the department, while granting relief in cases where reassessment and refund were delayed and denying it where refunds were issued within the statutory period.
Insolvency plea was quashed as insolvency applications filed during the subsistence of an interim moratorium were void ab initio even if the original proceedings were later withdrawn.
The absence of a signature on the charge-framing order sheet was a curable procedural defect and did not vitiate the trial, particularly where the accused was duly informed of and understood the charges against them.
If a Scheduled caste person converted to any other religion other than Hinduism, Sikhism or Buddhism, he immediately loses the membership of the Scheduled Caste status. In this, the Court also explained that if such a person re-converted to Hinduism, Sikhism or Buddhism, then he had to establish conclusive proof of the following, to re-claim SC status.
