Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
The CESTAT allowed the appeal against confiscation of gold, holding that the seizure by customs officials lacked reasonable belief of the goods being smuggled as mandated u/s 123 of the Customs Act, 1962. The appellant successfully discharged the burden of proof by producing documents regarding procurement of the gold. Confiscation u/s 111(d) was held unsustainable as the gold was importable subject to conditions. The absence of reasonable belief vitiated the entire proceedings, rendering the show cause notice and consequent adjudication bad in law.
The CESTAT allowed the appeal against confiscation of gold, holding that the seizure by customs officials lacked reasonable belief of the goods being smuggled as mandated u/s 123 of the Customs Act, 1962. The appellant successfully discharged the burden of proof by producing documents regarding procurement of the gold. Confiscation u/s 111(d) was held unsustainable as the gold was importable subject to conditions. The absence of reasonable belief vitiated the entire proceedings, rendering the show cause notice and consequent adjudication bad in law.
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