Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
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.
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