Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Revocation of Customs Broker License - forfeiture of security deposit - levy of penalty - The CESTAT held that the appellant was responsible for the actions of their employee, as per Regulation 13(12) of the Customs Broker Licensing Regulations, 2018. Despite the appellant's claim of ignorance, the CESTAT found that they failed to exercise proper supervision over their employees and were therefore liable for the violations. - The Tribunal found that the appellant had violated several regulations, including failing to advise the client to comply with regulations, exercising due diligence, and verifying the correctness of import-export codes. The court upheld the decision of the Commissioner to revoke the appellant's license and impose penalties.
Revocation of Customs Broker License - forfeiture of security deposit - levy of penalty - The CESTAT held that the appellant was responsible for the actions of their employee, as per Regulation 13(12) of the Customs Broker Licensing Regulations, 2018. Despite the appellant's claim of ignorance, the CESTAT found that they failed to exercise proper supervision over their employees and were therefore liable for the violations. - The Tribunal found that the appellant had violated several regulations, including failing to advise the client to comply with regulations, exercising due diligence, and verifying the correctness of import-export codes. The court upheld the decision of the Commissioner to revoke the appellant's license and impose penalties.
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