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...
The HC upheld that the DGFT notification relied on powers under Sections 3 and 5 of the Foreign Trade (Development & Regulation) Act, 1992 and on paragraphs 1.02 and 2.01 of the FTP, recognising the Central Government's competence to amend the FTP and to regulate imports by prohibition or restriction. Notwithstanding this statutory foundation, the court found that the Petitioner established a strong prima facie case and granted ad-interim relief pendente lite, listing the matter for consideration of interim reliefs on 13 Nov 2025. The classification change and import prohibition remain subject to final adjudication.
The HC upheld that the DGFT notification relied on powers under Sections 3 and 5 of the Foreign Trade (Development & Regulation) Act, 1992 and on paragraphs 1.02 and 2.01 of the FTP, recognising the Central Government's competence to amend the FTP and to regulate imports by prohibition or restriction. Notwithstanding this statutory foundation, the court found that the Petitioner established a strong prima facie case and granted ad-interim relief pendente lite, listing the matter for consideration of interim reliefs on 13 Nov 2025. The classification change and import prohibition remain subject to final adjudication.
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