Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
Reopening under Sections 147/148 was challenged on the ground that the "reason to believe" was founded only on an allegation of "circuitous" related-party transactions reflected in an STR, without any tangible material showing income escaping assessment. The authority neither recorded any finding of cash exchange or money returning to the assessee nor doubted or examined the documentary evidence and explanations demonstrating full disclosure and justification of income. Since the formation of belief was unsupported by material and the assessee's submissions were not considered, the reopening proceedings were held unsustainable, and the notice and consequential order were quashed. - HC
Reopening under Sections 147/148 was challenged on the ground that the "reason to believe" was founded only on an allegation of "circuitous" related-party transactions reflected in an STR, without any tangible material showing income escaping assessment. The authority neither recorded any finding of cash exchange or money returning to the assessee nor doubted or examined the documentary evidence and explanations demonstrating full disclosure and justification of income. Since the formation of belief was unsupported by material and the assessee's submissions were not considered, the reopening proceedings were held unsustainable, and the notice and consequential order were quashed. - HC
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