Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
ITAT examined unexplained cash credits under s.69A r/w 115BBE. Tribunal validated partnership withdrawals based on capital account records of Sai Samarth Plaza. Regarding cash advances, assessee provided affidavits from 17 persons confirming pre-demonetization payments with identity proof. Revenue's failure to verify claims through s.131 statements worked in assessee's favor despite sub-20,000 daily transactions raising suspicion. However, claim of Rs. 3,14,500 as receivables recovery was rejected due to absence of bifurcation in IT return for AY 2016-17 and lack of concrete evidence proving genuineness of sundry debtors, despite assessee falling under Presumptive Taxation Scheme. Addition partially sustained.
ITAT examined unexplained cash credits under s.69A r/w 115BBE. Tribunal validated partnership withdrawals based on capital account records of Sai Samarth Plaza. Regarding cash advances, assessee provided affidavits from 17 persons confirming pre-demonetization payments with identity proof. Revenue's failure to verify claims through s.131 statements worked in assessee's favor despite sub-20,000 daily transactions raising suspicion. However, claim of Rs. 3,14,500 as receivables recovery was rejected due to absence of bifurcation in IT return for AY 2016-17 and lack of concrete evidence proving genuineness of sundry debtors, despite assessee falling under Presumptive Taxation Scheme. Addition partially sustained.
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