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...
Assessee's intention was to hold landed property as investment, not for trade. Revenue failed to prove by reliable evidence that assessee indulged in activities typical of real estate traders like plotting, consolidation, obtaining permits, etc. Mere profit on sale cannot treat transaction as adventure in nature of trade. Disposal of investment property is capital gain, not business income. ITAT rightly held assessee's activities were on capital account based on facts and circumstances. Decided in assessee's favor.
Assessee's intention was to hold landed property as investment, not for trade. Revenue failed to prove by reliable evidence that assessee indulged in activities typical of real estate traders like plotting, consolidation, obtaining permits, etc. Mere profit on sale cannot treat transaction as adventure in nature of trade. Disposal of investment property is capital gain, not business income. ITAT rightly held assessee's activities were on capital account based on facts and circumstances. Decided in assessee's favor.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
