Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
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The AT affirmed the impugned order and dismissed the appeal, upholding the PAO dated 22.12.2017 under ss.24(4)(a)(i) and 24(4)(b)(i) of the PBPTA. The Tribunal found the Appellant failed to adduce evidence of delivery or transportation of the alleged gold, and discrepancies-invoice shortfall, unexplained credits to a third party's account, post-invoice bank transfers, and transactions confined to the demonetisation period-rendered the dealings suspect. The Appellant's failure to undertake due diligence and the production of a fraudulent PAN, corroborated by investigative statements, led the AT to conclude the receipts totalling approximately Rs.51.7 lakh constituted benami transactions within the meaning of s.2(9A) PBPTA.
The AT affirmed the impugned order and dismissed the appeal, upholding the PAO dated 22.12.2017 under ss.24(4)(a)(i) and 24(4)(b)(i) of the PBPTA. The Tribunal found the Appellant failed to adduce evidence of delivery or transportation of the alleged gold, and discrepancies-invoice shortfall, unexplained credits to a third party's account, post-invoice bank transfers, and transactions confined to the demonetisation period-rendered the dealings suspect. The Appellant's failure to undertake due diligence and the production of a fraudulent PAN, corroborated by investigative statements, led the AT to conclude the receipts totalling approximately Rs.51.7 lakh constituted benami transactions within the meaning of s.2(9A) PBPTA.
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