Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
For penalties for contravention of cash-receipt restrictions, proceedings commence when the Joint Commissioner, as the competent authority, issues a notice affording an opportunity of hearing; an Assessing Officer's proposal merely forwards material and does not initiate proceedings. The penalty order must be passed within six months from the end of the month of that notice. Although no express initiation period applies after receipt of the proposal, initiation should occur within a reasonable time, treated here as six months from the end of that month. Notices need not contain detailed factual particulars if the assessee receives a reasonable hearing and replies are considered. No separately recorded satisfaction by the Joint Commissioner is required before initiation.
For penalties for contravention of cash-receipt restrictions, proceedings commence when the Joint Commissioner, as the competent authority, issues a notice affording an opportunity of hearing; an Assessing Officer's proposal merely forwards material and does not initiate proceedings. The penalty order must be passed within six months from the end of the month of that notice. Although no express initiation period applies after receipt of the proposal, initiation should occur within a reasonable time, treated here as six months from the end of that month. Notices need not contain detailed factual particulars if the assessee receives a reasonable hearing and replies are considered. No separately recorded satisfaction by the Joint Commissioner is required before initiation.
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