Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Cash is treated as property under the Act, and routing demonetised cash through another person's bank account and back through banking channels can amount to a benami arrangement if the alleged business deal is not genuine. The Tribunal relied on inconsistencies in stock records, invoices, bank entries and the claimed gold sale, and noted the absence of purchaser KYC, PAN and reliable proof of delivery through the broker; it treated the broker's affidavit as insufficient. It also rejected objections on non-examination of the alleged account operator and on cross-examination, finding the person untraceable and no prejudice shown. The attachment was upheld and the appeal dismissed.
Cash is treated as property under the Act, and routing demonetised cash through another person's bank account and back through banking channels can amount to a benami arrangement if the alleged business deal is not genuine. The Tribunal relied on inconsistencies in stock records, invoices, bank entries and the claimed gold sale, and noted the absence of purchaser KYC, PAN and reliable proof of delivery through the broker; it treated the broker's affidavit as insufficient. It also rejected objections on non-examination of the alleged account operator and on cross-examination, finding the person untraceable and no prejudice shown. The attachment was upheld and the appeal dismissed.
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