Year-wise GST tax periods make composite show cause notices impermissible, requiring separate proceedings despite contrary non-jurisdictional preceden...
Prior APA methodology guides transfer pricing benchmarking where consistent FAR profiles support comparability and arm's length margins eliminate adju...
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For foreign-marked gold, the reverse burden applies once the statutory conditions are met, requiring specific, credible and traceable evidence linking lawful acquisition to the seized articles. General business records and GST invoices that do not correspond to the seized gold, explain its foreign markings, or reconcile with relevant accounts do not discharge that burden; confiscation of the gold was therefore justified. For silver bullion, the burden does not shift without reasonable belief of smuggling, supported by a nexus beyond stock discrepancies; relief from confiscation was sustained. Cash may be confiscated as sale proceeds only on cogent evidence linking it to smuggled goods, not suspicion. Penalties were correspondingly reduced to 50 per cent.
For foreign-marked gold, the reverse burden applies once the statutory conditions are met, requiring specific, credible and traceable evidence linking lawful acquisition to the seized articles. General business records and GST invoices that do not correspond to the seized gold, explain its foreign markings, or reconcile with relevant accounts do not discharge that burden; confiscation of the gold was therefore justified. For silver bullion, the burden does not shift without reasonable belief of smuggling, supported by a nexus beyond stock discrepancies; relief from confiscation was sustained. Cash may be confiscated as sale proceeds only on cogent evidence linking it to smuggled goods, not suspicion. Penalties were correspondingly reduced to 50 per cent.
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