Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Terminal gate verification for transshipment containers shifts to operators, while Customs controls and discrepancy reporting requirements remain mand...
Page of 4794
Press 'Enter' after typing page number.
201 to 220 of 95875 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Unexplained cash credit u/s 68 - there was no actual transaction of cash credit in the books of accounts which were based on fake entries having no substance. - Question of identity, creditworthiness of the parties and genuineness of transaction arises where there is a real transaction, then the assessee is under the obligation to discharge the onus imposed under Section 68 of the Act. Once it has been established beyond doubt that impugned cash credit entries represents the bogus/fake entries after manipulating the accounts, then in such a situation, in our considered opinion the question of discharging the onus as imposed under Section 68 of the Act does not arise. - It is well-settled that an obligation gets discharged due to impossibility of performance. - AT
Unexplained cash credit u/s 68 - there was no actual transaction of cash credit in the books of accounts which were based on fake entries having no substance. - Question of identity, creditworthiness of the parties and genuineness of transaction arises where there is a real transaction, then the assessee is under the obligation to discharge the onus imposed under Section 68 of the Act. Once it has been established beyond doubt that impugned cash credit entries represents the bogus/fake entries after manipulating the accounts, then in such a situation, in our considered opinion the question of discharging the onus as imposed under Section 68 of the Act does not arise. - It is well-settled that an obligation gets discharged due to impossibility of performance. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
