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...
Smuggling - Gold - baggage rules - The petitioners, a husband and wife, returned to India from the United States and were stopped by customs officials upon arrival. The officials found the wife wearing five gold bangles, which had not been declared. The petitioners claimed the bangles were a gift from their daughter. - The High court categorized the gold bangles as restricted items under customs laws, emphasizing that failure to declare such items amounts to their prohibition. - The court found that the petitioners' failure to declare the gold bangles constituted a violation of customs laws, as they exceeded the permissible limits for duty-free importation. - The court upheld the adjudicating authority's decision to confiscate the gold bangles and impose fines and duties, citing the provisions of the Customs Act and related regulations.
Smuggling - Gold - baggage rules - The petitioners, a husband and wife, returned to India from the United States and were stopped by customs officials upon arrival. The officials found the wife wearing five gold bangles, which had not been declared. The petitioners claimed the bangles were a gift from their daughter. - The High court categorized the gold bangles as restricted items under customs laws, emphasizing that failure to declare such items amounts to their prohibition. - The court found that the petitioners' failure to declare the gold bangles constituted a violation of customs laws, as they exceeded the permissible limits for duty-free importation. - The court upheld the adjudicating authority's decision to confiscate the gold bangles and impose fines and duties, citing the provisions of the Customs Act and related regulations.
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