Compulsorily convertible debentures remain debt before conversion, preventing transfer-pricing and interest-deduction disallowances on the stated fact...
Stock-in-trade transfer taxability follows possession and consideration, not later conveyance registration, limiting deemed-value provisions to the ac...
Alternative statutory remedy under GST bars writ challenge where classification, notice variance, and hearing disputes require factual appellate revie...
Smuggling - seizure of foreign origin gold bars - Burden of proof u/s 123 - Reliability of statements recorded u/s 108 - The Tribunal scrutinized the documents provided by the respondents, including invoices, stock registers, and GST returns, which were verified by the Customs authorities. The documents substantiated the respondents' claims of lawful procurement and transfer of gold. The Tribunal noted the Department's failure to disclose crucial follow-up reports from Kolkata Customs that supported the respondents' case. The Tribunal concluded that the respondents successfully discharged their burden of proof, and the seized gold was of Indian origin and legally possessed. - The appeals filed by the Department are dismissed. The Commissioner is directed to return the seized gold or its sale proceeds along with interest as per rules within six weeks.
Smuggling - seizure of foreign origin gold bars - Burden of proof u/s 123 - Reliability of statements recorded u/s 108 - The Tribunal scrutinized the documents provided by the respondents, including invoices, stock registers, and GST returns, which were verified by the Customs authorities. The documents substantiated the respondents' claims of lawful procurement and transfer of gold. The Tribunal noted the Department's failure to disclose crucial follow-up reports from Kolkata Customs that supported the respondents' case. The Tribunal concluded that the respondents successfully discharged their burden of proof, and the seized gold was of Indian origin and legally possessed. - The appeals filed by the Department are dismissed. The Commissioner is directed to return the seized gold or its sale proceeds along with interest as per rules within six weeks.
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TaxTMI 
TaxTMI 
of 4888 
