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 modified multiple additions in a tax appeal concerning bogus purchases and unexplained money. For contested purchases of Rs. 13,80,63,994, ITAT directed application of 5% profit rate, restricting addition to Rs. 69,03,200, consistent with preceding assessment years. Regarding unexplained money evidenced in seized documents from Director's premises, addition was deleted as Director claimed personal ownership in statement u/s 132(4). For unaccounted flat transactions of Rs. 17,42,000, ITAT applied 5% profit rate, resulting in addition of Rs. 87,100. On disputed entries marked as "6kg" and "7kg", ITAT modified addition to Rs. 1,30,000 total, considering subsequent retraction and lack of corroborative evidence. Revenue's appeals were partly allowed across all issues.
ITAT modified multiple additions in a tax appeal concerning bogus purchases and unexplained money. For contested purchases of Rs. 13,80,63,994, ITAT directed application of 5% profit rate, restricting addition to Rs. 69,03,200, consistent with preceding assessment years. Regarding unexplained money evidenced in seized documents from Director's premises, addition was deleted as Director claimed personal ownership in statement u/s 132(4). For unaccounted flat transactions of Rs. 17,42,000, ITAT applied 5% profit rate, resulting in addition of Rs. 87,100. On disputed entries marked as "6kg" and "7kg", ITAT modified addition to Rs. 1,30,000 total, considering subsequent retraction and lack of corroborative evidence. Revenue's appeals were partly allowed across all issues.
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