International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Amounts characterized as death cum retirement gratuity and commuted pension were accepted as exempt under the relevant exemption provisions and must be excluded from salary for tax purposes; corresponding additions to salary were deleted. The reliance on a special tax on unexplained income for those salary additions was held inapplicable. A separate addition treating a time deposit as unexplained money was deleted because declared salary and exempt retirement receipts adequately accounted for the deposit and the addition rested on surmise without evidential foundation.
Amounts characterized as death cum retirement gratuity and commuted pension were accepted as exempt under the relevant exemption provisions and must be excluded from salary for tax purposes; corresponding additions to salary were deleted. The reliance on a special tax on unexplained income for those salary additions was held inapplicable. A separate addition treating a time deposit as unexplained money was deleted because declared salary and exempt retirement receipts adequately accounted for the deposit and the addition rested on surmise without evidential foundation.
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