Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Penalty proceedings under ss. 271D and 271E were held unsustainable where the Revenue relied only on entries in seized papers belonging to third parties, without proving that the assessee actually accepted or repaid cash loans. The Tribunal held that such proceedings are penal in nature and independent of assessment proceedings, so the initial burden remained on the Revenue. That burden was not discharged because the documents were not shown to be the assessee's own records, no evidence proved utilisation or repayment, and the assessee's request for copies and cross-examination was denied. The penalties were deleted.
Penalty proceedings under ss. 271D and 271E were held unsustainable where the Revenue relied only on entries in seized papers belonging to third parties, without proving that the assessee actually accepted or repaid cash loans. The Tribunal held that such proceedings are penal in nature and independent of assessment proceedings, so the initial burden remained on the Revenue. That burden was not discharged because the documents were not shown to be the assessee's own records, no evidence proved utilisation or repayment, and the assessee's request for copies and cross-examination was denied. The penalties were deleted.
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