Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
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Confiscation of smuggled gold bars/biscuits u/ss 111(b), 111(d), and 111(f) of the Customs Act, 1962. The appellants failed to establish the licit procurement of the foreign-marked gold with 99.90% purity, a notified item u/s 123, thereby not discharging their burden of proving ownership. While the gold cannot be released due to unestablished ownership, the Tribunal reduced the penalties imposed on the appellants considering the roles played and the nature of the offense, deeming the initial penalties excessive compared to the gold's value. The penalty reductions were: Appellant 1 from Rs. 6,25,000 to Rs. 3,50,000, Appellant 2 from Rs. 6,50,000 to Rs. 4,00,000, and Appellant 3 from Rs. 5,80,000 to Rs. 2,00,000 u/s 112 of the Customs Act, 1962.
Confiscation of smuggled gold bars/biscuits u/ss 111(b), 111(d), and 111(f) of the Customs Act, 1962. The appellants failed to establish the licit procurement of the foreign-marked gold with 99.90% purity, a notified item u/s 123, thereby not discharging their burden of proving ownership. While the gold cannot be released due to unestablished ownership, the Tribunal reduced the penalties imposed on the appellants considering the roles played and the nature of the offense, deeming the initial penalties excessive compared to the gold's value. The penalty reductions were: Appellant 1 from Rs. 6,25,000 to Rs. 3,50,000, Appellant 2 from Rs. 6,50,000 to Rs. 4,00,000, and Appellant 3 from Rs. 5,80,000 to Rs. 2,00,000 u/s 112 of the Customs Act, 1962.
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