Permanent-establishment reassessment cannot revisit scrutinised disclosures; extended reopening fails without undisclosed material facts and within st...
Modified returns after business reorganisation must be assessed within pending proceedings, barring parallel scrutiny and consequential transfer prici...
Turnover mismatches under percentage-completion accounting cannot alone establish suppressed income where customer advances remain recorded as liabili...
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The appellants were found involved in smuggling one cut piece of foreign origin gold weighing 645.500 grams. A concealed the gold in his shoe to deliver it outside the airport premises, while B abetted the offense. Both were held liable for penalties u/ss 112(a) and 112(b) of the Customs Act, 1962. Considering their lack of prior antecedents and not being owners or beneficiaries, the Appellate Tribunal reduced the penalties imposed on them from Rs. 5,00,000/- each to Rs. 1,00,000/- each. The appeals were disposed of accordingly.
The appellants were found involved in smuggling one cut piece of foreign origin gold weighing 645.500 grams. A concealed the gold in his shoe to deliver it outside the airport premises, while B abetted the offense. Both were held liable for penalties u/ss 112(a) and 112(b) of the Customs Act, 1962. Considering their lack of prior antecedents and not being owners or beneficiaries, the Appellate Tribunal reduced the penalties imposed on them from Rs. 5,00,000/- each to Rs. 1,00,000/- each. The appeals were disposed of accordingly.
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