Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
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Documented acquisition, dematerialised holdings, exchange-based sales and banking records support the genuineness of share-trading losses unless independent material links the taxpayer to accommodation entries, manipulation, unaccounted cash or collusion. General investigation material and third-party statements cannot be relied on without supplying adverse material and allowing cross-examination, as this breaches natural justice. Section 68 does not apply where dematerialised share sales explain the proceeds and the claimed loss reflects depletion of funds rather than an unexplained credit. Section 69B also cannot replace section 68 absent evidence that actual investment exceeded recorded investment, including unrecorded consideration or cash payments.
Documented acquisition, dematerialised holdings, exchange-based sales and banking records support the genuineness of share-trading losses unless independent material links the taxpayer to accommodation entries, manipulation, unaccounted cash or collusion. General investigation material and third-party statements cannot be relied on without supplying adverse material and allowing cross-examination, as this breaches natural justice. Section 68 does not apply where dematerialised share sales explain the proceeds and the claimed loss reflects depletion of funds rather than an unexplained credit. Section 69B also cannot replace section 68 absent evidence that actual investment exceeded recorded investment, including unrecorded consideration or cash payments.
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