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 quashed assessment orders under section 153C for assessment years 2016-17 and 2017-18, ruling that the Assessing Officer lacked jurisdiction over the assessee whose documents were found during search operations. The tribunal found that satisfaction regarding the searched person was recorded on 06.09.2018, while satisfaction for the other person was recorded on 03.09.2018, creating jurisdictional deficiency. The satisfaction dated 03.09.2018 was deemed legally invalid without proper foundational satisfaction from the searched person's AO. Regarding undisclosed business income from on-money receipts on property sales, ITAT directed estimation of 25% profit on total gross receipts instead of treating entire amounts as unaccounted sales, recognizing legitimate business expenditure against unaccounted receipts and deleting balance additions.
ITAT quashed assessment orders under section 153C for assessment years 2016-17 and 2017-18, ruling that the Assessing Officer lacked jurisdiction over the assessee whose documents were found during search operations. The tribunal found that satisfaction regarding the searched person was recorded on 06.09.2018, while satisfaction for the other person was recorded on 03.09.2018, creating jurisdictional deficiency. The satisfaction dated 03.09.2018 was deemed legally invalid without proper foundational satisfaction from the searched person's AO. Regarding undisclosed business income from on-money receipts on property sales, ITAT directed estimation of 25% profit on total gross receipts instead of treating entire amounts as unaccounted sales, recognizing legitimate business expenditure against unaccounted receipts and deleting balance additions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
