Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
Exemption under s.10(23C)(iiiad) upheld; appeal allowed, interest and dividends excluded from annual receipts, disallowance deleted, capital gains exe...
The HC dismissed the appellant's reference, holding its jurisdiction under the statutory scheme is confined to questions of law and it cannot reappraise findings of fact settled by the Adjudicating Authority and Appellate Tribunal. The court found no perversity in the impugned factual inferences, upheld admissibility and corroborative value of statements and seized material, and concluded the respondent agency lawfully exercised confiscation powers over Indian currency and contraband. The appellant failed to discharge the shifted evidential onus to prove lawful source or lack of intent to illegally procure foreign exchange; the conduct and recoveries established attempted contravention. Consequently, the adjudicatory and appellate orders were affirmed and the appeal dismissed.
The HC dismissed the appellant's reference, holding its jurisdiction under the statutory scheme is confined to questions of law and it cannot reappraise findings of fact settled by the Adjudicating Authority and Appellate Tribunal. The court found no perversity in the impugned factual inferences, upheld admissibility and corroborative value of statements and seized material, and concluded the respondent agency lawfully exercised confiscation powers over Indian currency and contraband. The appellant failed to discharge the shifted evidential onus to prove lawful source or lack of intent to illegally procure foreign exchange; the conduct and recoveries established attempted contravention. Consequently, the adjudicatory and appellate orders were affirmed and the appeal dismissed.
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