Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
HC declined to adjudicate the substantive merits and limited its review to the provisional release order, finding some conditions unduly onerous. The court modified the provisional release terms: the Petitioner must remit the full duty declared by it and pay 50% of the differential duty assessed by the Department on re-determination of value. The HC set aside the requirement to furnish a Bank Guarantee of Rs.11,00,000 and held the remaining conditions adequate to protect the Department's interest while permitting release. Consequential direction follows for release of the goods on compliance with the altered financial conditions. Writ petition disposed.
HC declined to adjudicate the substantive merits and limited its review to the provisional release order, finding some conditions unduly onerous. The court modified the provisional release terms: the Petitioner must remit the full duty declared by it and pay 50% of the differential duty assessed by the Department on re-determination of value. The HC set aside the requirement to furnish a Bank Guarantee of Rs.11,00,000 and held the remaining conditions adequate to protect the Department's interest while permitting release. Consequential direction follows for release of the goods on compliance with the altered financial conditions. Writ petition disposed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
