SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
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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TaxTMI 
TaxTMI 
of 4879 
