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...
Valuation of the imported goods - Mis-classification of goods - While the CESTAT upheld the under-valuation allegation, it dropped the demand related to mis-classification. The Tribunal relied on evidence of undisclosed payments to overseas suppliers, which indicated undervaluation of the imported goods. However, it noted that the rough entries in the appellant's notebooks lacked evidentiary value and could not be the sole basis for determining undervaluation.
Valuation of the imported goods - Mis-classification of goods - While the CESTAT upheld the under-valuation allegation, it dropped the demand related to mis-classification. The Tribunal relied on evidence of undisclosed payments to overseas suppliers, which indicated undervaluation of the imported goods. However, it noted that the rough entries in the appellant's notebooks lacked evidentiary value and could not be the sole basis for determining undervaluation.
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