Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Penalty for aiding and abetting import misdeclaration requires proof that the Customs Broker or its G-Card holder had knowledge of, and knowingly participated in, the importer's quantity misdeclaration. Processing import documents and filing Bills of Entry based on documents supplied by the importer does not by itself establish such knowledge. The notes state that, without corroborative evidence of prior knowledge or conscious assistance in duty evasion, penalty under Section 112(a)(ii) cannot be sustained; the penalties were therefore set aside with consequential relief.
Penalty for aiding and abetting import misdeclaration requires proof that the Customs Broker or its G-Card holder had knowledge of, and knowingly participated in, the importer's quantity misdeclaration. Processing import documents and filing Bills of Entry based on documents supplied by the importer does not by itself establish such knowledge. The notes state that, without corroborative evidence of prior knowledge or conscious assistance in duty evasion, penalty under Section 112(a)(ii) cannot be sustained; the penalties were therefore set aside with consequential relief.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
