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...
Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Benami transactions are established where consideration is advanced by a beneficial owner as a loan and property is registered in a benamidar's name on default, particularly if the benamidar cannot show independent means or documentary proof; in such cases provisional attachment is supportable. Statements of witnesses, including third parties and those recorded by initiating officers, have evidentiary value unless shown to be coerced, and may be used with money trail documents to prove the scheme. The benamidar bears an obligation to disclose the source of consideration, and failure to do so, coupled with unrefuted documentary sequence, permits sustaining the benami finding and related measures.
Benami transactions are established where consideration is advanced by a beneficial owner as a loan and property is registered in a benamidar's name on default, particularly if the benamidar cannot show independent means or documentary proof; in such cases provisional attachment is supportable. Statements of witnesses, including third parties and those recorded by initiating officers, have evidentiary value unless shown to be coerced, and may be used with money trail documents to prove the scheme. The benamidar bears an obligation to disclose the source of consideration, and failure to do so, coupled with unrefuted documentary sequence, permits sustaining the benami finding and related measures.
Note: It is a system-generated summary and is for quick reference only.
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