Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
The appeal challenges the attachment order of gold and silver articles from lockers, questioning the identification of beneficial locker holders under the Prohibition of Benami Property Transactions Act. The court held that the conduct of the parties, particularly the Safe Vault Private Limited (SVPL), which failed to disclose the true ownership and delayed changing the name despite requests, speaks for itself. The SVPL's excuse of a bona fide mistake was unacceptable, and they were equally responsible for the benami transaction by not adhering to KYC norms. The appellant failed to disclose the source of acquisition of gold and silver, and the SVPL and appellant were hand in glove to mislead the respondent. The court found no violation of Section 24(1) of the Act, as notice was given to Shiv Daga, and the appellant had ample opportunity to present their case. Consequently, the appeal was dismissed.
The appeal challenges the attachment order of gold and silver articles from lockers, questioning the identification of beneficial locker holders under the Prohibition of Benami Property Transactions Act. The court held that the conduct of the parties, particularly the Safe Vault Private Limited (SVPL), which failed to disclose the true ownership and delayed changing the name despite requests, speaks for itself. The SVPL's excuse of a bona fide mistake was unacceptable, and they were equally responsible for the benami transaction by not adhering to KYC norms. The appellant failed to disclose the source of acquisition of gold and silver, and the SVPL and appellant were hand in glove to mislead the respondent. The court found no violation of Section 24(1) of the Act, as notice was given to Shiv Daga, and the appellant had ample opportunity to present their case. Consequently, the appeal was dismissed.
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