Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
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CESTAT analyzed a case involving seizure of 3499.750gm of gold allegedly smuggled from Myanmar. The Tribunal found insufficient evidence to establish smuggling, noting lack of reasonable belief under Section 110 and 123 of Customs Act, 1962. The department failed to provide cogent proof of foreign origin or smuggling. Procedural irregularities, including non-compliance with Section 138B and principles of natural justice, further weakened the case. Consequently, the Tribunal allowed the appeal, ruling that the seized goods were not liable for confiscation and the involved parties were not subject to penalties.
CESTAT analyzed a case involving seizure of 3499.750gm of gold allegedly smuggled from Myanmar. The Tribunal found insufficient evidence to establish smuggling, noting lack of reasonable belief under Section 110 and 123 of Customs Act, 1962. The department failed to provide cogent proof of foreign origin or smuggling. Procedural irregularities, including non-compliance with Section 138B and principles of natural justice, further weakened the case. Consequently, the Tribunal allowed the appeal, ruling that the seized goods were not liable for confiscation and the involved parties were not subject to penalties.
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