Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
Tax collection at source on purchases removes duplicate withholding obligation, while trade-creditor evidence requires verification before unexplained...
Transfer-pricing comparability requires material turnover effects; adjustments must cover only associated-enterprise transactions and exclude abnormal...
CESTAT appellate proceedings involving seized gold bars. Tribunal found insufficient evidence to prove foreign origin of gold, with purity ranging 995.7 to 998.9. Revenue failed to establish 'reasonable belief' of smuggling under Customs Act. Seizure deemed improper as appellant falls under Section 123(1)(a)(i) as possessor. Tribunal directed opportunity for cross-examination of initial seizure officers and remanded case for fresh adjudication, requiring Adjudicating Authority to comprehensively reassess evidence. Appeal disposed with directions to conduct detailed reexamination, potentially leading to return of seized gold to appellant.
CESTAT appellate proceedings involving seized gold bars. Tribunal found insufficient evidence to prove foreign origin of gold, with purity ranging 995.7 to 998.9. Revenue failed to establish 'reasonable belief' of smuggling under Customs Act. Seizure deemed improper as appellant falls under Section 123(1)(a)(i) as possessor. Tribunal directed opportunity for cross-examination of initial seizure officers and remanded case for fresh adjudication, requiring Adjudicating Authority to comprehensively reassess evidence. Appeal disposed with directions to conduct detailed reexamination, potentially leading to return of seized gold to appellant.
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