Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Customs transaction value cannot be rejected or enhanced on the basis of unauthenticated certificates of origin or purported export shipping bills obtained from third parties. Where the declared price is supported by the overseas sale contract, no excess payment is alleged or proved, and the Department produces no evidence of contemporaneous imports of identical or similar goods at higher prices, under-valuation is not established. Uncorroborated acknowledgment of unverified documents does not prove their correctness. The enhanced assessable value of imported cigarettes was therefore set aside. Penalty proceedings against a deceased individual appellant abate upon production of a death certificate.
Customs transaction value cannot be rejected or enhanced on the basis of unauthenticated certificates of origin or purported export shipping bills obtained from third parties. Where the declared price is supported by the overseas sale contract, no excess payment is alleged or proved, and the Department produces no evidence of contemporaneous imports of identical or similar goods at higher prices, under-valuation is not established. Uncorroborated acknowledgment of unverified documents does not prove their correctness. The enhanced assessable value of imported cigarettes was therefore set aside. Penalty proceedings against a deceased individual appellant abate upon production of a death certificate.
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