Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Maintainability of appeal before the High Court - A plain reading of sub-section (2) of section 130 of the 1962 Act would demonstrate, that the appeal to this Court could be preferred either by the Principal Commissioner of Customs or Commissioner of Customs or even “other party” aggrieved by any order of the Tribunal. The DA, to our minds, would if nothing else, fall within the category of “other party”. Therefore, this objection is without merit, and hence is rejected. - The preliminary objection taken by the respondents, as regards the maintainability of the instant appeal, cannot be sustained - HC
Maintainability of appeal before the High Court - A plain reading of sub-section (2) of section 130 of the 1962 Act would demonstrate, that the appeal to this Court could be preferred either by the Principal Commissioner of Customs or Commissioner of Customs or even “other party” aggrieved by any order of the Tribunal. The DA, to our minds, would if nothing else, fall within the category of “other party”. Therefore, this objection is without merit, and hence is rejected. - The preliminary objection taken by the respondents, as regards the maintainability of the instant appeal, cannot be sustained - HC
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