Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Section 3(b) contravention was sustained because the provision prohibits payment to, or for the credit of, a person resident outside India and does not require routing through a non-authorised person; however, the proprietrix's penalty on this count was reduced on the facts. Regulation 6(1) was held inapplicable to an individual resident proprietrix, so the penalty imposed under Section 10(6) read with Regulation 6(1) was deleted. Delayed settlement of import dues was treated as a contravention warranting penalty, but the quantum was substantially reduced for want of adequate pursuit in all respects. Separate penalties on the power of attorney holder were deleted because the attorney acted only as an agent and could not be treated as part of a body of individuals.
Section 3(b) contravention was sustained because the provision prohibits payment to, or for the credit of, a person resident outside India and does not require routing through a non-authorised person; however, the proprietrix's penalty on this count was reduced on the facts. Regulation 6(1) was held inapplicable to an individual resident proprietrix, so the penalty imposed under Section 10(6) read with Regulation 6(1) was deleted. Delayed settlement of import dues was treated as a contravention warranting penalty, but the quantum was substantially reduced for want of adequate pursuit in all respects. Separate penalties on the power of attorney holder were deleted because the attorney acted only as an agent and could not be treated as part of a body of individuals.
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