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...
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The AT upholds the finding of contravention of Section 9(1)(b) and 9(1)(d) of the Act of 1973 against the appellant, holding his confessional statement-recorded after issuance of summons and not during custody-admissible and made voluntarily; co-noticee statements and documentary material corroborated involvement in hawala-style transactions. The AT declines to follow the High Court's acquittal rationale, applying the Apex Court principle that a voluntary confession in civil proceedings requires no further corroboration. The AT reduces the imposed penalty from Rs. 20,00,000 to Rs. 5,00,000 in view of mitigating circumstances (including age and pre-deposit), affirms confiscation of Rs. 21,80,000, and disposes of the appeal accordingly.
The AT upholds the finding of contravention of Section 9(1)(b) and 9(1)(d) of the Act of 1973 against the appellant, holding his confessional statement-recorded after issuance of summons and not during custody-admissible and made voluntarily; co-noticee statements and documentary material corroborated involvement in hawala-style transactions. The AT declines to follow the High Court's acquittal rationale, applying the Apex Court principle that a voluntary confession in civil proceedings requires no further corroboration. The AT reduces the imposed penalty from Rs. 20,00,000 to Rs. 5,00,000 in view of mitigating circumstances (including age and pre-deposit), affirms confiscation of Rs. 21,80,000, and disposes of the appeal accordingly.
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