Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
Addition u/s 56(2)(viia) - purchase of shares at price more than its fair market value - The tribunal extensively reviewed the submissions and evidence presented, including the valuation of shares, the authenticity of transactions, and the procedural challenges raised by the assessee. The AO added sums to the assessee's income as the purchase price of shares in several companies was found to be less than their fair market value as per the records on the Ministry of Corporate Affairs website. The ITAT agreed with this approach, rejecting the assessee's valuation reports which claimed lower market values for these shares.
Addition u/s 56(2)(viia) - purchase of shares at price more than its fair market value - The tribunal extensively reviewed the submissions and evidence presented, including the valuation of shares, the authenticity of transactions, and the procedural challenges raised by the assessee. The AO added sums to the assessee's income as the purchase price of shares in several companies was found to be less than their fair market value as per the records on the Ministry of Corporate Affairs website. The ITAT agreed with this approach, rejecting the assessee's valuation reports which claimed lower market values for these shares.
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