Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
The Tribunal held that the objection of the assessee regarding low tax effect was not sustainable. The addition made u/s 68 for bogus LTCG and unexplained cash credits involved penny stocks. The Tribunal cannot determine if a share is a penny stock, which is decided by BSE or investigation agencies. The transaction involved shares identified as penny stocks by the Investigation Directorate. The Tribunal found no merit in the objections raised by the assessee and dismissed the request to recall the order. The power u/s 254(2) cannot be used to review the order on its merits. The assessee's application is dismissed, citing judicial discipline and referring to a decision by the Supreme Court.
The Tribunal held that the objection of the assessee regarding low tax effect was not sustainable. The addition made u/s 68 for bogus LTCG and unexplained cash credits involved penny stocks. The Tribunal cannot determine if a share is a penny stock, which is decided by BSE or investigation agencies. The transaction involved shares identified as penny stocks by the Investigation Directorate. The Tribunal found no merit in the objections raised by the assessee and dismissed the request to recall the order. The power u/s 254(2) cannot be used to review the order on its merits. The assessee's application is dismissed, citing judicial discipline and referring to a decision by the Supreme Court.
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