Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Section 123 places the burden on a person found in conscious possession of notified gold to establish lawful importation or acquisition. Where no lawful-source evidence is produced and surrounding material supports illicit origin, gold may be absolutely confiscated under customs law. Currency may be confiscated as sale proceeds where investigation material links it to prior sales of smuggled gold. Penalties for knowingly dealing in smuggled goods require evidence of conscious involvement. Mere familial relationship, awareness of another's conduct, employment, or routine work instructions do not establish abetment or liability without independent corroboration of knowledge, active participation or complicity.
Section 123 places the burden on a person found in conscious possession of notified gold to establish lawful importation or acquisition. Where no lawful-source evidence is produced and surrounding material supports illicit origin, gold may be absolutely confiscated under customs law. Currency may be confiscated as sale proceeds where investigation material links it to prior sales of smuggled gold. Penalties for knowingly dealing in smuggled goods require evidence of conscious involvement. Mere familial relationship, awareness of another's conduct, employment, or routine work instructions do not establish abetment or liability without independent corroboration of knowledge, active participation or complicity.
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