Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
Documented listed-share transactions cannot be treated as non-genuine merely because they yielded extraordinary profits, involved a penny stock, or reflected adverse company indicators. In the absence of evidence linking the taxpayer to price rigging, entry operators or other manipulation, the alleged capital-gains addition and consequential commission expenditure were deleted. Unsecured loans were accepted as explained based on lenders' tax returns, confirmations, bank statements and a corporate lender's affidavit. A life-insurance premium deduction was also allowed because the record showed adjustment in the relevant financial year, despite the receipt's later assessment-year reference.
Documented listed-share transactions cannot be treated as non-genuine merely because they yielded extraordinary profits, involved a penny stock, or reflected adverse company indicators. In the absence of evidence linking the taxpayer to price rigging, entry operators or other manipulation, the alleged capital-gains addition and consequential commission expenditure were deleted. Unsecured loans were accepted as explained based on lenders' tax returns, confirmations, bank statements and a corporate lender's affidavit. A life-insurance premium deduction was also allowed because the record showed adjustment in the relevant financial year, despite the receipt's later assessment-year reference.
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