Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
Denial of cross-examination in adjudication proceedings alleging fraudulent exports and overvaluation to wrongfully claim duty drawback was held not to violate natural justice. Cross-examination is not an absolute right; the requesting party must show specific prejudice and explain why it is necessary for substantial justice. The request was found vague, unsupported by reasons, and indicative of delaying tactics, particularly where many co-noticees were non-existent or failed to appear and the officials acted in their official capacity. Given the allegation that the co-noticees were set up by the petitioner, lack of bona fides was inferred. The challenge failed and the impugned order was upheld. - HC
Denial of cross-examination in adjudication proceedings alleging fraudulent exports and overvaluation to wrongfully claim duty drawback was held not to violate natural justice. Cross-examination is not an absolute right; the requesting party must show specific prejudice and explain why it is necessary for substantial justice. The request was found vague, unsupported by reasons, and indicative of delaying tactics, particularly where many co-noticees were non-existent or failed to appear and the officials acted in their official capacity. Given the allegation that the co-noticees were set up by the petitioner, lack of bona fides was inferred. The challenge failed and the impugned order was upheld. - HC
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