Clubbing of income from gifted property failed where the claim surfaced after reassessment limitation, sustaining capital-gains assessment in spouse's...
Employee stock-option discount qualifies as revenue expenditure, while royalty and service comparables require reliable functional and transactional b...
Special insurance income computation preserves statutory deductions while limiting transfer-pricing, withholding and disallowance adjustments for gene...
Gold seizure requires a pre-existing, objectively sustainable reasonable belief that goods are liable to confiscation; a statutory burden to establish licit acquisition cannot retrospectively cure the absence of that foundation. Foreign origin and illicit importation require reliable evidence beyond concealment, missing documents at interception, or general smuggling intelligence; traceable stock, purchase, inheritance and melting records must be properly tested. A retracted customs statement cannot substantively establish smuggling without corroboration and applicable procedural safeguards, especially where investigative material contradicts it. Penalty requires independent proof of each person's conscious act or omission and the requisite knowledge or intent.
Gold seizure requires a pre-existing, objectively sustainable reasonable belief that goods are liable to confiscation; a statutory burden to establish licit acquisition cannot retrospectively cure the absence of that foundation. Foreign origin and illicit importation require reliable evidence beyond concealment, missing documents at interception, or general smuggling intelligence; traceable stock, purchase, inheritance and melting records must be properly tested. A retracted customs statement cannot substantively establish smuggling without corroboration and applicable procedural safeguards, especially where investigative material contradicts it. Penalty requires independent proof of each person's conscious act or omission and the requisite knowledge or intent.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4896 
