Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Seizure of Gold Bars - Confiscation - Penalty u/s 112(b) - The case involves the interception of the Appellant carrying 17 pieces of gold of foreign origin in Kolkata. Despite not claiming ownership of the gold bars, the Appellant was penalized under Section 112(b) of the Customs Act, 1962. The Tribunal affirmed the absolute confiscation of the gold bars but reduced the penalty from Rs. 20 Lakhs to Rs. 2 Lakhs, considering the financial circumstances of the Appellant.
Seizure of Gold Bars - Confiscation - Penalty u/s 112(b) - The case involves the interception of the Appellant carrying 17 pieces of gold of foreign origin in Kolkata. Despite not claiming ownership of the gold bars, the Appellant was penalized under Section 112(b) of the Customs Act, 1962. The Tribunal affirmed the absolute confiscation of the gold bars but reduced the penalty from Rs. 20 Lakhs to Rs. 2 Lakhs, considering the financial circumstances of the Appellant.
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