Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Fraud classification show-cause notices founded on inconclusive forensic audit material cannot sustain action, permitting fresh proceedings on conclus...
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Declared garments used to conceal substantial quantities of undeclared imported goods remain confiscable and may be released on payment of redemption fine. Concealment involving imports in breach of trade and intellectual-property laws supported confiscation, but redemption fine was reduced to 10 per cent of the declared or assessed value because the original fine was excessive. Liability to penalty for gross misdeclaration and improper importation was sustained where the importer failed to provide satisfactory material establishing lack of knowledge of the undeclared goods supplied by a foreign supplier. The penalty quantum was reduced, and the appeal was partly allowed.
Declared garments used to conceal substantial quantities of undeclared imported goods remain confiscable and may be released on payment of redemption fine. Concealment involving imports in breach of trade and intellectual-property laws supported confiscation, but redemption fine was reduced to 10 per cent of the declared or assessed value because the original fine was excessive. Liability to penalty for gross misdeclaration and improper importation was sustained where the importer failed to provide satisfactory material establishing lack of knowledge of the undeclared goods supplied by a foreign supplier. The penalty quantum was reduced, and the appeal was partly allowed.
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