Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
Addition u/s 68 - Failure to discharge onus - Though proviso to section 68 which has been inserted w.e.f. 1.04.2013, that is, from A.Y. 2013-14 provides that Investee Company in whose name such credit is recorded should also offer explanation about the nature and source of such credit. Here in this case though proviso may not strictly apply but facts and circumstances as discussed above does require that the investee company has to explain the source of its investment and creditworthiness.
Addition u/s 68 - Failure to discharge onus - Though proviso to section 68 which has been inserted w.e.f. 1.04.2013, that is, from A.Y. 2013-14 provides that Investee Company in whose name such credit is recorded should also offer explanation about the nature and source of such credit. Here in this case though proviso may not strictly apply but facts and circumstances as discussed above does require that the investee company has to explain the source of its investment and creditworthiness.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
