Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
HC upheld confiscation notice issued under Section 130 of TNGST Act regarding transport of gold jewelry. Officials established prima facie evidence of tax evasion through misuse of Rules 138 and 55 of CGST Rules. Court distinguished between Section 129 (seizure) and Section 130 (confiscation), ruling they operate independently despite non-obstante clause in Section 129. Following Synergy Fertichem precedent, authorities demonstrated sufficient grounds beyond mere suspicion for confiscation proceedings. Petitioner failed to provide adequate documentation to counter allegations of intentional tax evasion. Authorities' formation of opinion met threshold requirements for invoking Section 130. Petition dismissed, upholding validity of confiscation notice.
HC upheld confiscation notice issued under Section 130 of TNGST Act regarding transport of gold jewelry. Officials established prima facie evidence of tax evasion through misuse of Rules 138 and 55 of CGST Rules. Court distinguished between Section 129 (seizure) and Section 130 (confiscation), ruling they operate independently despite non-obstante clause in Section 129. Following Synergy Fertichem precedent, authorities demonstrated sufficient grounds beyond mere suspicion for confiscation proceedings. Petitioner failed to provide adequate documentation to counter allegations of intentional tax evasion. Authorities' formation of opinion met threshold requirements for invoking Section 130. Petition dismissed, upholding validity of confiscation notice.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4800
Join Channel
TaxTMI 
