Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Central excise valuation rules applied to coal sales: the Tribunal held royalty is includible in transaction value for the normal limitation period though not for the extended period; consequential duty demand on royalty confirmed for the normal period but set aside for extended limitation because there was no intent to evade. Amounts collected as stowing excise duty, forest transit fee, state rural infrastructure and road tax, entry tax, terminal tax, development and environment cess, and duty on captive consumption are characterised as taxes or exempted levies and excluded from assessable value; related penalties and interest were also quashed.
Central excise valuation rules applied to coal sales: the Tribunal held royalty is includible in transaction value for the normal limitation period though not for the extended period; consequential duty demand on royalty confirmed for the normal period but set aside for extended limitation because there was no intent to evade. Amounts collected as stowing excise duty, forest transit fee, state rural infrastructure and road tax, entry tax, terminal tax, development and environment cess, and duty on captive consumption are characterised as taxes or exempted levies and excluded from assessable value; related penalties and interest were also quashed.
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