Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
The High Court dealt with a case involving unexplained cash credit u/s 68 of the Income Tax Act. The assessee had surrendered unaccounted income during a survey, which was offered for tax. The ITAT deleted the addition, allowing telescopic benefit by linking surrendered income to cash deposits in the bank account as maturity proceeds of hundies. ITAT's decision was based on thorough analysis of facts, documents, and evidence. The High Court upheld ITAT's findings, stating no legal error was found. The benefit of telescoping was justified as per precedent. The department failed to prove the source of bank deposits was related to a scam. No substantial question of law arose, and the appeal was decided against the revenue.
The High Court dealt with a case involving unexplained cash credit u/s 68 of the Income Tax Act. The assessee had surrendered unaccounted income during a survey, which was offered for tax. The ITAT deleted the addition, allowing telescopic benefit by linking surrendered income to cash deposits in the bank account as maturity proceeds of hundies. ITAT's decision was based on thorough analysis of facts, documents, and evidence. The High Court upheld ITAT's findings, stating no legal error was found. The benefit of telescoping was justified as per precedent. The department failed to prove the source of bank deposits was related to a scam. No substantial question of law arose, and the appeal was decided against the revenue.
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