Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Refund claim of excess duty denied due to unjust enrichment - goods sold based on LME price index. Revenue contended appellant booked excess duty as revenue expenditure initially, then as recoverable after favorable order, disallowing refund. Tribunal relied on prior ruling that mere accounting treatment insufficient to prove burden passed on, requiring evidence from Revenue. Appellant selling goods based on LME price index. Supreme Court ruled for such pricing, duty cannot be loaded, precluding unjust enrichment. Appellant bore duty burden paid to supplier, entitled to refund of excess duty as rightly allowed earlier. Impugned order set aside, appeal allowed.
Refund claim of excess duty denied due to unjust enrichment - goods sold based on LME price index. Revenue contended appellant booked excess duty as revenue expenditure initially, then as recoverable after favorable order, disallowing refund. Tribunal relied on prior ruling that mere accounting treatment insufficient to prove burden passed on, requiring evidence from Revenue. Appellant selling goods based on LME price index. Supreme Court ruled for such pricing, duty cannot be loaded, precluding unjust enrichment. Appellant bore duty burden paid to supplier, entitled to refund of excess duty as rightly allowed earlier. Impugned order set aside, appeal allowed.
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