Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Section 110(1) customs seizure requires a reason to believe, based on relevant material, that goods are liable to confiscation under Section 111; mere suspicion is insufficient. In the areca nuts matter, the record contained tax invoices, GST payment details and an e-way bill supporting lawful intra-State movement, while the seizure inventory and laboratory report did not show foreign origin. The seizure of the goods and truck was therefore without jurisdiction, and release was directed unless fresh material later emerged.
Section 110(1) customs seizure requires a reason to believe, based on relevant material, that goods are liable to confiscation under Section 111; mere suspicion is insufficient. In the areca nuts matter, the record contained tax invoices, GST payment details and an e-way bill supporting lawful intra-State movement, while the seizure inventory and laboratory report did not show foreign origin. The seizure of the goods and truck was therefore without jurisdiction, and release was directed unless fresh material later emerged.
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