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...
Loss in respect of embezzlement of stock by an employee - loss of jewellery/stock is allowed as the assessee substantiated its claim and filed relevant evidence proving actual embezzlement. The disallowance made by the assessing officer is deleted. Estimation of income - Bogus purchases - Following the Bombay High Court judgments in Ashwin Purshotam Bajaj and Rishabhdev Technocable Ltd., section 69 is not applicable, and only profit has to be added. As sales were not doubted against the purchases and no dispute regarding quantitative stock details, the entire purchase cannot be added. Gross profit of 3% is applied over and above the declared rate on the bogus purchase, granting partial relief to the assessee.
Loss in respect of embezzlement of stock by an employee - loss of jewellery/stock is allowed as the assessee substantiated its claim and filed relevant evidence proving actual embezzlement. The disallowance made by the assessing officer is deleted. Estimation of income - Bogus purchases - Following the Bombay High Court judgments in Ashwin Purshotam Bajaj and Rishabhdev Technocable Ltd., section 69 is not applicable, and only profit has to be added. As sales were not doubted against the purchases and no dispute regarding quantitative stock details, the entire purchase cannot be added. Gross profit of 3% is applied over and above the declared rate on the bogus purchase, granting partial relief to the assessee.
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