Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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Seizure of gold of foreign origin, silver granules and Indian currency notes - The High Court overturned the CESTAT's decision, emphasizing that: The statements made by the respondent under Section 108 of the Customs Act were considered voluntary and credible, despite the subsequent retraction. The respondent's claim that the gold was obtained from melted old jewellery was unsupported by any documentary evidence. The burden of proof under Section 123 of the Customs Act lies with the person from whom the goods were seized, to prove they are not smuggled goods. The respondent failed to discharge this burden. The seized cash was linked to the sale proceeds of smuggled gold, given the lack of any legitimate source documentation. - The High court restored the adjudicating authority’s order, which included the confiscation of the gold, silver, and cash, and imposed penalties on the respondent.
Seizure of gold of foreign origin, silver granules and Indian currency notes - The High Court overturned the CESTAT's decision, emphasizing that: The statements made by the respondent under Section 108 of the Customs Act were considered voluntary and credible, despite the subsequent retraction. The respondent's claim that the gold was obtained from melted old jewellery was unsupported by any documentary evidence. The burden of proof under Section 123 of the Customs Act lies with the person from whom the goods were seized, to prove they are not smuggled goods. The respondent failed to discharge this burden. The seized cash was linked to the sale proceeds of smuggled gold, given the lack of any legitimate source documentation. - The High court restored the adjudicating authority’s order, which included the confiscation of the gold, silver, and cash, and imposed penalties on the respondent.
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