Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Sale of confiscated gold without notice was held contrary to the applicable departmental circular and the principles of natural justice, because para 3 extended notice protection even where appeal or other legal remedies had not been exhausted. The HC rejected the contention that confiscated goods could be auctioned without notice, and treated the non-issuance of notice as fatal to the sale. Since the gold had already been sold, redemption could not be made illusory: the later refund computation based on tariff value and transfer date was held untenable, and the petitioners were directed to receive the value of the gold on the date of the de novo redemption order, after statutory deductions.
Sale of confiscated gold without notice was held contrary to the applicable departmental circular and the principles of natural justice, because para 3 extended notice protection even where appeal or other legal remedies had not been exhausted. The HC rejected the contention that confiscated goods could be auctioned without notice, and treated the non-issuance of notice as fatal to the sale. Since the gold had already been sold, redemption could not be made illusory: the later refund computation based on tariff value and transfer date was held untenable, and the petitioners were directed to receive the value of the gold on the date of the de novo redemption order, after statutory deductions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
