Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Absolute confiscation of counterfeit goods upheld as appellant relinquished title and claimed non-ownership. For other mis-declared goods, transaction value rejected u/r 12, value re-determined through market inquiry u/r 9 after deducting abatements, method accepted by importer. Redemption fine equal to value of goods deemed harsh, reduced. Penalty u/ss 114A and 114AA set aside, penalty under 112(a) reduced to Rs. 9,00,000/-. Partial relief granted in appeal before Appellate Tribunal.
Absolute confiscation of counterfeit goods upheld as appellant relinquished title and claimed non-ownership. For other mis-declared goods, transaction value rejected u/r 12, value re-determined through market inquiry u/r 9 after deducting abatements, method accepted by importer. Redemption fine equal to value of goods deemed harsh, reduced. Penalty u/ss 114A and 114AA set aside, penalty under 112(a) reduced to Rs. 9,00,000/-. Partial relief granted in appeal before Appellate Tribunal.
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