Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The case pertains to the confiscation of foreign marked gold bars by customs authorities. The appellant claimed the gold was procured from a legitimate source and was being sent as a legitimate business transaction. However, no documentary evidence was produced by the courier company or the appellant's representative at the time of seizure. The Adjudicating Authority and the Commissioner (Appeals) dismissed the appellant's defense in a cryptic manner without adequately considering the claim of legitimate procurement and transaction. The orders were passed without following principles of natural justice and without providing detailed reasons for rejecting the appellant's defense. Consequently, the matter has been remanded back to the Original Adjudicating Authority to decide by way of a speaking order within three months, subject to the appellant providing necessary documents and appearing for a personal hearing.
The case pertains to the confiscation of foreign marked gold bars by customs authorities. The appellant claimed the gold was procured from a legitimate source and was being sent as a legitimate business transaction. However, no documentary evidence was produced by the courier company or the appellant's representative at the time of seizure. The Adjudicating Authority and the Commissioner (Appeals) dismissed the appellant's defense in a cryptic manner without adequately considering the claim of legitimate procurement and transaction. The orders were passed without following principles of natural justice and without providing detailed reasons for rejecting the appellant's defense. Consequently, the matter has been remanded back to the Original Adjudicating Authority to decide by way of a speaking order within three months, subject to the appellant providing necessary documents and appearing for a personal hearing.
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