Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Abetment under FERA was found where multiple retracted statements, corroborated by documentary bank evidence and witness admissions, showed the appellant provided funds to effect foreign remittances, establishing intention and a meeting of minds with the recipient. The tribunal applied principles on admissibility of retracted confessions and invoked the statutory presumption of culpable mental state, shifting the burden to the appellant who failed to rebut it. Consequently the charge of abetment under Section 64(2) read with Sections 8(3) and 8(4) of FERA was upheld and the administrative penalty was reduced to Rs. 10,00,000.
Abetment under FERA was found where multiple retracted statements, corroborated by documentary bank evidence and witness admissions, showed the appellant provided funds to effect foreign remittances, establishing intention and a meeting of minds with the recipient. The tribunal applied principles on admissibility of retracted confessions and invoked the statutory presumption of culpable mental state, shifting the burden to the appellant who failed to rebut it. Consequently the charge of abetment under Section 64(2) read with Sections 8(3) and 8(4) of FERA was upheld and the administrative penalty was reduced to Rs. 10,00,000.
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