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 overturned addition of unaccounted money allegedly received by assessee representing 20% of total consideration. Addition was based on extrapolation from loose papers discovered during search operations. Tribunal held that extrapolation for on-money receipts from shop sales cannot be sustained where no specific evidence was found during search, no proper investigation was conducted, and key witness was not questioned about incriminating documents. Additionally, many flats were sold to parties different from those listed in loose sheets, and buyers were unrelated parties. Given CIT(A) had already deleted similar additions for another partner in joint venture project Ganga Acropolis, ITAT deleted the disputed addition for AY 2017-18, ruling in assessee's favor.
ITAT overturned addition of unaccounted money allegedly received by assessee representing 20% of total consideration. Addition was based on extrapolation from loose papers discovered during search operations. Tribunal held that extrapolation for on-money receipts from shop sales cannot be sustained where no specific evidence was found during search, no proper investigation was conducted, and key witness was not questioned about incriminating documents. Additionally, many flats were sold to parties different from those listed in loose sheets, and buyers were unrelated parties. Given CIT(A) had already deleted similar additions for another partner in joint venture project Ganga Acropolis, ITAT deleted the disputed addition for AY 2017-18, ruling in assessee's favor.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
