Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
The Appellate Tribunal considered an issue related to the disallowance of expenditure in cash exceeding the permissible limit u/s 40A. The assessee, a milk distributor, received milk products from a main supplier and conducted sales through sub-distributors, with payments made in cash through banking channels. Despite high turnover and low margins, the Tribunal referred to relevant case precedents to establish that payments made to others could be verified, thus exempting them from section 40A(3). It was found that the payee had also acted as the assessee's agent and was required to make cash payments to the company, leading to the deletion of the disallowance. The decision favored the assessee based on the provided evidence and legal interpretations.
The Appellate Tribunal considered an issue related to the disallowance of expenditure in cash exceeding the permissible limit u/s 40A. The assessee, a milk distributor, received milk products from a main supplier and conducted sales through sub-distributors, with payments made in cash through banking channels. Despite high turnover and low margins, the Tribunal referred to relevant case precedents to establish that payments made to others could be verified, thus exempting them from section 40A(3). It was found that the payee had also acted as the assessee's agent and was required to make cash payments to the company, leading to the deletion of the disallowance. The decision favored the assessee based on the provided evidence and legal interpretations.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
