Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
The High Court held that once the Income Tax Appellate Tribunal (ITAT) found no cogent or convincing evidence from the Revenue to allege bogus purchases, it was wrong to expect the assessee to prove its innocence. The ITAT erred in upholding the Commissioner of Income Tax (Appeals) (CIT-A)'s ad hoc disallowance of 10% of the total purchases as bogus, without analyzing the reasonableness or justification for such disallowance. The ITAT's approach of adopting a middle ground by endorsing the 10% disallowance, despite finding no cogent evidence from the Revenue, gave credence to the proposition that the law can demand proof of the negative from the assessee. The High Court opined that such an approach is repugnant and cannot be endorsed as a process known to law to disallow expenses on the premise of being bogus. Consequently, the High Court ruled in favor of the assessee and against the Revenue.
The High Court held that once the Income Tax Appellate Tribunal (ITAT) found no cogent or convincing evidence from the Revenue to allege bogus purchases, it was wrong to expect the assessee to prove its innocence. The ITAT erred in upholding the Commissioner of Income Tax (Appeals) (CIT-A)'s ad hoc disallowance of 10% of the total purchases as bogus, without analyzing the reasonableness or justification for such disallowance. The ITAT's approach of adopting a middle ground by endorsing the 10% disallowance, despite finding no cogent evidence from the Revenue, gave credence to the proposition that the law can demand proof of the negative from the assessee. The High Court opined that such an approach is repugnant and cannot be endorsed as a process known to law to disallow expenses on the premise of being bogus. Consequently, the High Court ruled in favor of the assessee and against the Revenue.
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