Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Smuggling - Gold - absolute confiscation - onus to prove - The Tribunal noted that the gold seizure occurred during a town seizure, and the gold lacked foreign markings. The person in possession had stated that it was purchased from a legitimate source in Chennai. Therefore, the Customs Officer lacked sufficient basis to conclude that the gold was of foreign origin or smuggled. - The appellant provided detailed evidence of the gold purchase transaction, including the source of funds and the seller's details. The Tribunal found this evidence credible and sufficient to establish the legitimacy of the purchase. - Consequently, the Tribunal set aside the impugned order, granting the appellant consequential benefits.
Smuggling - Gold - absolute confiscation - onus to prove - The Tribunal noted that the gold seizure occurred during a town seizure, and the gold lacked foreign markings. The person in possession had stated that it was purchased from a legitimate source in Chennai. Therefore, the Customs Officer lacked sufficient basis to conclude that the gold was of foreign origin or smuggled. - The appellant provided detailed evidence of the gold purchase transaction, including the source of funds and the seller's details. The Tribunal found this evidence credible and sufficient to establish the legitimacy of the purchase. - Consequently, the Tribunal set aside the impugned order, granting the appellant consequential benefits.
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