ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
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The AT dismissed the appeal, upholding provisional attachment orders and refusing interference. The Tribunal found a prima facie case of offence under Section 3 of the Act of 2002 and noted pending criminal proceedings against the appellants, precluding a finding of innocence; the 180-day termination calculation and exclusions were addressed against the appellants. The appellants failed to satisfactorily establish lawful source of attached assets: sale deeds were unregistered or unsupported, ancestral title and consideration documentation were inadequate, and claimed timber business records (firm registration, ledger accounts, invoices) were unreliable or handwritten and inconsistent with statements under Section 50(2)/(3). Relief from attachment was therefore denied and the appeals dismissed.
The AT dismissed the appeal, upholding provisional attachment orders and refusing interference. The Tribunal found a prima facie case of offence under Section 3 of the Act of 2002 and noted pending criminal proceedings against the appellants, precluding a finding of innocence; the 180-day termination calculation and exclusions were addressed against the appellants. The appellants failed to satisfactorily establish lawful source of attached assets: sale deeds were unregistered or unsupported, ancestral title and consideration documentation were inadequate, and claimed timber business records (firm registration, ledger accounts, invoices) were unreliable or handwritten and inconsistent with statements under Section 50(2)/(3). Relief from attachment was therefore denied and the appeals dismissed.
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