Imported menthol-scented sweet supari classification dispute: seizure quashed, release for home consumption subject to duty bond; bank guarantee refus...
CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
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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