Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
Page of 4828
Press 'Enter' after typing page number.
161 to 180 of 96556 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The CESTAT set aside the confiscation of seized gold and penalty imposed on appellants for smuggling, holding that the Department failed to establish reasonable belief under Section 123 of the Customs Act, 1962. The appellants demonstrated a preponderance of probability that the gold was lawfully procured, supported by income evidence and CA certification. The Department's reliance on statements without producing seized gold or allowing cross-examination of punch witnesses violated principles of natural justice. The Tribunal found the appellants' denial of knowledge about the gold's foreign origin credible, as the gold was received in sealed packets and the Department failed to produce material evidence of foreign markings. Consequently, the confiscation and penalties were quashed, and the appeals were allowed.
The CESTAT set aside the confiscation of seized gold and penalty imposed on appellants for smuggling, holding that the Department failed to establish reasonable belief under Section 123 of the Customs Act, 1962. The appellants demonstrated a preponderance of probability that the gold was lawfully procured, supported by income evidence and CA certification. The Department's reliance on statements without producing seized gold or allowing cross-examination of punch witnesses violated principles of natural justice. The Tribunal found the appellants' denial of knowledge about the gold's foreign origin credible, as the gold was received in sealed packets and the Department failed to produce material evidence of foreign markings. Consequently, the confiscation and penalties were quashed, and the appeals were allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
