Split consignment classification treated complementary motorcycle parts as one imported motorcycle, sustaining valuation, confiscation and importer li...
Page of 4905
Press 'Enter' after typing page number.
241 to 260 of 98083 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The Delhi High Court considered the addition u/s 68 and the evidentiary value of statements recorded u/s 132(4). The court emphasized that an assessment cannot be based solely on presumptions or statements without corroborating material. While statements are considered information, they must be supported by evidence found during a search for assessment. The court also discussed rectification u/s 292B, stating that jurisdictional defects cannot be cured under this section, rendering proceedings void. In this case, the Revenue failed to link seized material to the assessee group, leading to the assessment being set aside in favor of the assessee by the ITAT.
The Delhi High Court considered the addition u/s 68 and the evidentiary value of statements recorded u/s 132(4). The court emphasized that an assessment cannot be based solely on presumptions or statements without corroborating material. While statements are considered information, they must be supported by evidence found during a search for assessment. The court also discussed rectification u/s 292B, stating that jurisdictional defects cannot be cured under this section, rendering proceedings void. In this case, the Revenue failed to link seized material to the assessee group, leading to the assessment being set aside in favor of the assessee by the ITAT.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4905 
