Capital Asset Conversion Requires Proven Business Stock Treatment; Paper Consideration in Spousal Flat Transfers Does Not Create Taxable Business Inco...
Human-probability test defeats political donation deduction where banking records mask accommodation-entry fund layering and evidence shows non-genuin...
Commercial property status protects capital-gains exemption when residential-house ownership limits are tested, while agricultural-land character gove...
Investigation deposits refunded after failed customs demands fall outside the statutory appellate pre-deposit interest regime and may attract compensa...
Resolution plan finality extinguishes unquantified operational-creditor claims and pending proceedings unless the approved plan expressly preserves th...
Reasonable belief based on definite material existing at seizure is a precondition to seizing gold outside a Customs station and to shifting the statutory burden of proving its non-smuggled character. The absence of foreign markings, the gold's purity, and lack of evidence of foreign origin, illicit importation, or the manner of smuggling cannot support that belief; domestic-procurement documents must be rebutted through investigation. On these principles, confiscation was set aside and related penalties did not survive. Reliance on witness statements under Section 138B did not invalidate adjudication where no specific request for cross-examination had been made before the adjudicating authority.
Reasonable belief based on definite material existing at seizure is a precondition to seizing gold outside a Customs station and to shifting the statutory burden of proving its non-smuggled character. The absence of foreign markings, the gold's purity, and lack of evidence of foreign origin, illicit importation, or the manner of smuggling cannot support that belief; domestic-procurement documents must be rebutted through investigation. On these principles, confiscation was set aside and related penalties did not survive. Reliance on witness statements under Section 138B did not invalidate adjudication where no specific request for cross-examination had been made before the adjudicating authority.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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