Export obligation removed by notification, customs duty demand invalidated; penalties under s.112 and s.114AA quashed due to inadmissible s.108 statem...
Customs officers must wear and use department-issued body-worn cameras when clearing passenger baggage, with daily secure transfer and 30-day retentio...
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ITAT allowed the assessee's appeal, set aside the CIT(A)'s order and deleted the assessment additions premised on an enhanced gross profit rate. The Tribunal found the sole basis for the addition was an untested statement of a third party, noting the AO denied the assessee's request for cross-examination, and that the assessee's books were not rejected yet AO proceeded to estimate a higher GP. Reliance on an uncorroborated third-party statement and estimating income without rejecting books contravened settled principles; hence the addition increasing GP from the declared rate was held unsustainable and the assessment adjustment was vacated.
ITAT allowed the assessee's appeal, set aside the CIT(A)'s order and deleted the assessment additions premised on an enhanced gross profit rate. The Tribunal found the sole basis for the addition was an untested statement of a third party, noting the AO denied the assessee's request for cross-examination, and that the assessee's books were not rejected yet AO proceeded to estimate a higher GP. Reliance on an uncorroborated third-party statement and estimating income without rejecting books contravened settled principles; hence the addition increasing GP from the declared rate was held unsustainable and the assessment adjustment was vacated.
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