Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
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The court held that the goods were accompanied by relevant documents like e-way bill, tax invoice, and the HSN code and quantity mentioned therein matched the actual goods. Despite the goods being physically verified as PVC Aluminum Mixed Cable (Feeder Cable) instead of aluminum cable, the HSN code and tax rate remained the same. The authority failed to prove any material difference in HSN code or tax rate from the invoices. The court quashed the detention order, stating that once the HSN code and tax rate match, no adverse inference can be drawn, as the petitioner would not gain by misdescribing the goods, nor would the state lose legitimate tax.
The court held that the goods were accompanied by relevant documents like e-way bill, tax invoice, and the HSN code and quantity mentioned therein matched the actual goods. Despite the goods being physically verified as PVC Aluminum Mixed Cable (Feeder Cable) instead of aluminum cable, the HSN code and tax rate remained the same. The authority failed to prove any material difference in HSN code or tax rate from the invoices. The court quashed the detention order, stating that once the HSN code and tax rate match, no adverse inference can be drawn, as the petitioner would not gain by misdescribing the goods, nor would the state lose legitimate tax.
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