Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Addition under Section 68 alleging unexplained share capital and share premium was contested on grounds of identity, creditworthiness and genuineness of subscribers; court accepted traceability via bank records and Section 133(6) responses, finding subscribers to be taxpayers and creditworthy, and therefore rejected characterization as phantom investors. The prospective proviso to Section 68 (Finance Act, 2012) was held inapplicable for the relevant assessment year, so the "source of source" and "origin of origin" doctrines were not applied. Allegations of money laundering or roundtripping lacked specific corroborative evidence showing a live link to the assessee; Tribunal findings for the assessee were upheld.
Addition under Section 68 alleging unexplained share capital and share premium was contested on grounds of identity, creditworthiness and genuineness of subscribers; court accepted traceability via bank records and Section 133(6) responses, finding subscribers to be taxpayers and creditworthy, and therefore rejected characterization as phantom investors. The prospective proviso to Section 68 (Finance Act, 2012) was held inapplicable for the relevant assessment year, so the "source of source" and "origin of origin" doctrines were not applied. Allegations of money laundering or roundtripping lacked specific corroborative evidence showing a live link to the assessee; Tribunal findings for the assessee were upheld.
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