Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
The HC dismissed an appeal concerning seized betel nuts that were destroyed while in Customs custody. The court determined that Customs authorities failed to discharge their burden of proving how goods valued at 88 lakhs at seizure became unfit for human consumption during the one-and-a-half years in their custody. The respondent was neither present during testing nor provided with reports to seek a second opinion. The HC established that Customs authorities are liable for deterioration of goods in their custody without satisfactory explanation, seizure-time valuation is binding absent grave error, and authorities must inform owners before destroying contested goods. Customs was directed to compensate the respondent within four weeks.
The HC dismissed an appeal concerning seized betel nuts that were destroyed while in Customs custody. The court determined that Customs authorities failed to discharge their burden of proving how goods valued at 88 lakhs at seizure became unfit for human consumption during the one-and-a-half years in their custody. The respondent was neither present during testing nor provided with reports to seek a second opinion. The HC established that Customs authorities are liable for deterioration of goods in their custody without satisfactory explanation, seizure-time valuation is binding absent grave error, and authorities must inform owners before destroying contested goods. Customs was directed to compensate the respondent within four weeks.
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