Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Absolute confiscation of gold - The case involved the confiscation of gold by customs authorities from a jeweler, who contested the allegations of smuggling and illegal importation. The appellant provided substantial evidence, including invoices and transaction records, to prove the legality of their gold procurement activities. They argued that the seized gold was domestically sourced and not of foreign origin, highlighting discrepancies in its characteristics. The Appellate Tribunal found merit in the appellant's submissions, criticizing the lower court's reliance on unsubstantiated assumptions. Consequently, the appeal was allowed, and the appellant was granted relief, including the return of seized gold or refund of auction proceeds.
Absolute confiscation of gold - The case involved the confiscation of gold by customs authorities from a jeweler, who contested the allegations of smuggling and illegal importation. The appellant provided substantial evidence, including invoices and transaction records, to prove the legality of their gold procurement activities. They argued that the seized gold was domestically sourced and not of foreign origin, highlighting discrepancies in its characteristics. The Appellate Tribunal found merit in the appellant's submissions, criticizing the lower court's reliance on unsubstantiated assumptions. Consequently, the appeal was allowed, and the appellant was granted relief, including the return of seized gold or refund of auction proceeds.
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