Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Provisional release of seized imports requires enhanced duty payment, bank guarantee and disclosures while customs adjudication proceeds independently...
Unexplained gifts - Donee denied to make gifts - burden to prove - The High Court has held that, gifts are not genuine and Tribunal has deleted the addition merely only on the ground that no opportunity was provided for cross-examination,but fact remains that assessee never availed it - It was observed by the HC that, transaction is not genuine but colorable as money is routed indirectly from the firm to the assessee's account under the garb of the gifts. - Supreme Court declined to interfere into the matter.
Unexplained gifts - Donee denied to make gifts - burden to prove - The High Court has held that, gifts are not genuine and Tribunal has deleted the addition merely only on the ground that no opportunity was provided for cross-examination,but fact remains that assessee never availed it - It was observed by the HC that, transaction is not genuine but colorable as money is routed indirectly from the firm to the assessee's account under the garb of the gifts. - Supreme Court declined to interfere into the matter.
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