Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Terminal gate verification for transshipment containers shifts to operators, while Customs controls and discrepancy reporting requirements remain mand...
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Penalty under section 271D for alleged acceptance of a cash loan was held unsustainable where the case rested only on a third-party statement recorded in search proceedings and loose papers found at another premises. The assessee consistently denied taking any cash loan, yet the Assessing Officer did not provide the incriminating material, related assessment details, or an opportunity to cross-examine the alleged lender. In the absence of independent corroborative evidence, the allegation was treated as conjecture; loose sheets and random entries were said to have no evidentiary value against a third person unless supported by admissible material and surrounding circumstances. The penalty was deleted.
Penalty under section 271D for alleged acceptance of a cash loan was held unsustainable where the case rested only on a third-party statement recorded in search proceedings and loose papers found at another premises. The assessee consistently denied taking any cash loan, yet the Assessing Officer did not provide the incriminating material, related assessment details, or an opportunity to cross-examine the alleged lender. In the absence of independent corroborative evidence, the allegation was treated as conjecture; loose sheets and random entries were said to have no evidentiary value against a third person unless supported by admissible material and surrounding circumstances. The penalty was deleted.
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