Third-party loose sheets require reliable nexus before supporting unexplained expenditure additions; presumptions do not establish payer identity or o...
TNMM comparability using audited accounts and working-capital adjustments can eliminate unwarranted transfer-pricing additions where verified margins ...
Gross-profit additions on disputed purchases require reasoned appellate determination; disclosed claims alone do not support inaccurate-particulars pe...
Limitation after transfer-pricing remand: fresh TPO reference did not extend the assessment deadline, rendering the consequential assessment time-barr...
Interim judicial restraint on tax deduction prevents default, while supporting reasonable cause and penalty deletion for foreign-leg LFC reimbursement...
Palmolein classification defeated the crude-oil concession; material misdeclaration sustained recovery and confiscation, while separate false-document...
Statutory presumption for notified gold arises only when seizure rests on reasonable belief, supported by objective material, that the particular gold was smuggled. Purity, lack of documents at interception and private carriage do not establish foreign origin. Domestic acquisition may be established through contemporaneous invoices, supplier confirmation and banking records; confiscation for breach of an import exemption condition requires identification of that breached condition. Statements recorded under customs powers remain admissible, but retracted statements require scrutiny of voluntariness, reliability and independent corroboration. Where such statements and a panchanama are challenged, denial of cross-examination of their makers materially prejudices the affected party and violates natural justice. Confiscation and related penalties were set aside, and the departmental appeal was dismissed.
Statutory presumption for notified gold arises only when seizure rests on reasonable belief, supported by objective material, that the particular gold was smuggled. Purity, lack of documents at interception and private carriage do not establish foreign origin. Domestic acquisition may be established through contemporaneous invoices, supplier confirmation and banking records; confiscation for breach of an import exemption condition requires identification of that breached condition. Statements recorded under customs powers remain admissible, but retracted statements require scrutiny of voluntariness, reliability and independent corroboration. Where such statements and a panchanama are challenged, denial of cross-examination of their makers materially prejudices the affected party and violates natural justice. Confiscation and related penalties were set aside, and the departmental appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
