Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Provisional release of seized imports requires enhanced duty payment, bank guarantee and disclosures while customs adjudication proceeds independently...
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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