Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Section 69C concerns whether the source of expenditure remains unexplained, not merely whether underlying purchases are alleged to be bogus. Documentary support for transactions and bank disbursements upon encashment of letters of credit may explain the funding source. Allegations that goods did not move or documents were forged require independent inquiry, verification, examination of beneficiary entities, or other cogent material. Where sales are accepted, an addition made under section 69C cannot be sustained by recasting it under a different provision. The discussion also addresses consequential taxation under section 115BBE.
Section 69C concerns whether the source of expenditure remains unexplained, not merely whether underlying purchases are alleged to be bogus. Documentary support for transactions and bank disbursements upon encashment of letters of credit may explain the funding source. Allegations that goods did not move or documents were forged require independent inquiry, verification, examination of beneficiary entities, or other cogent material. Where sales are accepted, an addition made under section 69C cannot be sustained by recasting it under a different provision. The discussion also addresses consequential taxation under section 115BBE.
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