Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Whether the payment made to a stock exchange for shortfall in margin money constitutes an inadmissible "penalty" disallowable under s. 37 was the dominant issue. Relying on binding precedent holding that such sums are compensatory in nature and incurred in the course of business, the tribunal held that the payment cannot be treated as an offence-related penalty attracting disallowance under s. 37. Consequently, the disallowance sustained by the first appellate authority was set aside and the deduction was allowed. - ITAT
Whether the payment made to a stock exchange for shortfall in margin money constitutes an inadmissible "penalty" disallowable under s. 37 was the dominant issue. Relying on binding precedent holding that such sums are compensatory in nature and incurred in the course of business, the tribunal held that the payment cannot be treated as an offence-related penalty attracting disallowance under s. 37. Consequently, the disallowance sustained by the first appellate authority was set aside and the deduction was allowed. - ITAT
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