Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
ITAT adjudicated a tax dispute involving two primary issues: long-term capital gains (LTCG) and unexplained money. Regarding LTCG, the tribunal rejected the Assessing Officer's attempt to refer the matter to the Departmental Valuation Officer, finding no statutory support for such action. On the unexplained money issue, the tribunal upheld the CIT(A)'s decision, confirming that the assessee adequately explained the source of bank deposits. Consequently, the tribunal dismissed the revenue's appeal on both grounds, ruling in favor of the assessee and maintaining the CIT(A)'s original order.
ITAT adjudicated a tax dispute involving two primary issues: long-term capital gains (LTCG) and unexplained money. Regarding LTCG, the tribunal rejected the Assessing Officer's attempt to refer the matter to the Departmental Valuation Officer, finding no statutory support for such action. On the unexplained money issue, the tribunal upheld the CIT(A)'s decision, confirming that the assessee adequately explained the source of bank deposits. Consequently, the tribunal dismissed the revenue's appeal on both grounds, ruling in favor of the assessee and maintaining the CIT(A)'s original order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
