Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Non-participating bidders cannot disturb concluded liquidation sales on speculative prejudice, while costs for such challenges must remain proportiona...
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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TaxTMI 
TaxTMI 
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