Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Reasonable belief for seizure was absent where gold bangles and silver granules were intercepted in town seizure on non-specific intelligence, while the respondents produced manufacturing vouchers and GST invoices showing domestic procurement. Section 123 presumption did not arise because the Department had not first established foreign origin, the goods bore no foreign markings, and the evidence of smuggling was uncorroborated. Confiscation of both goods was therefore unsustainable, and the failure to prove smuggled character also defeated penalties under Sections 112(a) and 112(b), especially where lawful purchase documents remained unrebutted.
Reasonable belief for seizure was absent where gold bangles and silver granules were intercepted in town seizure on non-specific intelligence, while the respondents produced manufacturing vouchers and GST invoices showing domestic procurement. Section 123 presumption did not arise because the Department had not first established foreign origin, the goods bore no foreign markings, and the evidence of smuggling was uncorroborated. Confiscation of both goods was therefore unsustainable, and the failure to prove smuggled character also defeated penalties under Sections 112(a) and 112(b), especially where lawful purchase documents remained unrebutted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
