Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Reopening an income tax assessment based solely on entries found in loose papers seized from a third party amounts to 'borrowed satisfaction' and cannot independently justify proceedings. The decision reasons that statutory presumptions apply only against the person from whose possession documents were seized, and third party possession is at best corroborative, not substantive, evidence; accordingly, a re opening founded only on such third party entries is invalid. Applying this principle, the tribunal held the notice under section 148 unlawful and quashed the consequent reassessment under section 147, allowing the taxpayer's appeal.
Reopening an income tax assessment based solely on entries found in loose papers seized from a third party amounts to 'borrowed satisfaction' and cannot independently justify proceedings. The decision reasons that statutory presumptions apply only against the person from whose possession documents were seized, and third party possession is at best corroborative, not substantive, evidence; accordingly, a re opening founded only on such third party entries is invalid. Applying this principle, the tribunal held the notice under section 148 unlawful and quashed the consequent reassessment under section 147, allowing the taxpayer's appeal.
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