Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
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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