Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
Valuation - transaction value of food supplements imported - undervaluation and mis-declaration of goods - rejection of declared value - In the present case, it is observed that SG has categorically admitted for having discussed with the Foreign suppliers about the actual price and that the said actual prices were mentioned on the invoices received from the foreign suppliers. It is thereafter that Shri SG used to prepare fake invoices in his computer reducing the price of the invoices of foreign supplier to the extent of almost 50% thereof so as to file the same along with Bill of Entry - However, the order of demand and imposition of penalty on other importing firms and their respective proprietors is hereby set aside. - AT
Valuation - transaction value of food supplements imported - undervaluation and mis-declaration of goods - rejection of declared value - In the present case, it is observed that SG has categorically admitted for having discussed with the Foreign suppliers about the actual price and that the said actual prices were mentioned on the invoices received from the foreign suppliers. It is thereafter that Shri SG used to prepare fake invoices in his computer reducing the price of the invoices of foreign supplier to the extent of almost 50% thereof so as to file the same along with Bill of Entry - However, the order of demand and imposition of penalty on other importing firms and their respective proprietors is hereby set aside. - AT
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