Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Reason to believe as an essential ingredient for imposing a penalty under section 112(b) is examined, with emphasis on corroboration failures and circumstantial indicators permitting an inference of prior knowledge rather than innocent carriage; the account's unverifiable intermediary, non traceable contact details and voluntary no objection to seizure supported that inference, sustaining the legal basis for penalty. The article also explains that judicial discretion may moderate penalty quantum on humanitarian and equitable grounds where confiscation and prosecution remain in place, resulting in reduced monetary penalties.
Reason to believe as an essential ingredient for imposing a penalty under section 112(b) is examined, with emphasis on corroboration failures and circumstantial indicators permitting an inference of prior knowledge rather than innocent carriage; the account's unverifiable intermediary, non traceable contact details and voluntary no objection to seizure supported that inference, sustaining the legal basis for penalty. The article also explains that judicial discretion may moderate penalty quantum on humanitarian and equitable grounds where confiscation and prosecution remain in place, resulting in reduced monetary penalties.
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