Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Unsubstantiated exempt agricultural income claim sustains concealment penalty after disclosure only on departmental detection and no bona fide evidenc...
The High Court addressed the issue of tax levy and penalty related to the release of a vehicle transporting goods without proper documents beyond the destination. The court rejected the mechanical detention of the consignment based on insufficient grounds provided by the respondent. It also emphasized that undervaluation alone cannot justify the seizure of goods in transit. As no evidence of undervaluation was presented, the appeal of the revenue was deemed meritless and dismissed, with costs made easy for the respondent.
The High Court addressed the issue of tax levy and penalty related to the release of a vehicle transporting goods without proper documents beyond the destination. The court rejected the mechanical detention of the consignment based on insufficient grounds provided by the respondent. It also emphasized that undervaluation alone cannot justify the seizure of goods in transit. As no evidence of undervaluation was presented, the appeal of the revenue was deemed meritless and dismissed, with costs made easy for the respondent.
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