Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
HC upheld orders of Commissioner (Appeals) confiscating gold bars and cash from petitioners. Petitioners were given adequate opportunity, no violation of natural justice principles. Findings based on material on record indicating conspiracy to smuggle gold from Dubai. Contradictions in petitioners' stances. No intention to declare gold to Customs. Attempted evasion and smuggling. No interference warranted in impugned orders.
HC upheld orders of Commissioner (Appeals) confiscating gold bars and cash from petitioners. Petitioners were given adequate opportunity, no violation of natural justice principles. Findings based on material on record indicating conspiracy to smuggle gold from Dubai. Contradictions in petitioners' stances. No intention to declare gold to Customs. Attempted evasion and smuggling. No interference warranted in impugned orders.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
