Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
The HC set aside the confiscation order of personal gold jewelry (kada and chains weighing 85 grams) seized from the petitioner by Customs officials. The Court determined that the items constituted "personal jewellery" under Baggage Rules, 2016, as they were bona fide for personal use at a wedding the petitioner was attending. The Court emphasized that tourists should not face harassment regarding personal jewelry and effects, noting that no show cause notice was issued to the petitioner after detention, violating principles of natural justice. Following Gopika Vennankot Govind precedent, the Court ordered release of the items subject to payment of storage charges and the condition that the jewelry be re-exported.
The HC set aside the confiscation order of personal gold jewelry (kada and chains weighing 85 grams) seized from the petitioner by Customs officials. The Court determined that the items constituted "personal jewellery" under Baggage Rules, 2016, as they were bona fide for personal use at a wedding the petitioner was attending. The Court emphasized that tourists should not face harassment regarding personal jewelry and effects, noting that no show cause notice was issued to the petitioner after detention, violating principles of natural justice. Following Gopika Vennankot Govind precedent, the Court ordered release of the items subject to payment of storage charges and the condition that the jewelry be re-exported.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
