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...
Journal-entry transfers of outstanding loans during restructuring of related concerns may constitute reasonable cause for non-compliance with the prescribed mode of loan acceptance where the original loans were received through banking channels, no cash movement occurred, and the transactions are genuine. The notes explain that journal entries are a recognised method of recording business transactions and that penalty protection may apply if there is no adverse finding of non-business use or movement of money. On the stated facts, transfer of genuine loans through journal entries to support a business takeover and financial transition was treated as supported by reasonable cause, resulting in deletion of the remaining penalty.
Journal-entry transfers of outstanding loans during restructuring of related concerns may constitute reasonable cause for non-compliance with the prescribed mode of loan acceptance where the original loans were received through banking channels, no cash movement occurred, and the transactions are genuine. The notes explain that journal entries are a recognised method of recording business transactions and that penalty protection may apply if there is no adverse finding of non-business use or movement of money. On the stated facts, transfer of genuine loans through journal entries to support a business takeover and financial transition was treated as supported by reasonable cause, resulting in deletion of the remaining penalty.
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