Palmolein classification defeated the crude-oil concession; material misdeclaration sustained recovery and confiscation, while separate false-document...
Consignment sales undertaken by a del credere commission agent for consignors, with commission income recorded, cannot be treated as the agent's own turnover merely because APMC cess was paid; the estimated profit addition was therefore deleted. Agency receivables and payables require factual verification that individual balances arise from commission transactions, including appropriate confirmations; their deletion was set aside for fresh verification. Unidentified additional evidence cannot support a Rule 46A objection where the allegedly new documents are not identified. Loans, advances and deposits require verification of their source, nature and genuineness; deletion without examining incomplete balance details was set aside, and the addition restored.
Consignment sales undertaken by a del credere commission agent for consignors, with commission income recorded, cannot be treated as the agent's own turnover merely because APMC cess was paid; the estimated profit addition was therefore deleted. Agency receivables and payables require factual verification that individual balances arise from commission transactions, including appropriate confirmations; their deletion was set aside for fresh verification. Unidentified additional evidence cannot support a Rule 46A objection where the allegedly new documents are not identified. Loans, advances and deposits require verification of their source, nature and genuineness; deletion without examining incomplete balance details was set aside, and the addition restored.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
