Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Section 123's reverse evidential burden applies to seized melted or unmarked gold: once officers form a reasonable belief of smuggling, the possessor must prove lawful acquisition, and the adjudicator may examine the reasonableness of that belief and confidential intelligence. Because appellants failed to satisfactorily account for the seized gold and cash-documentary discrepancies, absence of customer records, fabricated post-seizure documents and unexplained forensic stock differences-the Tribunal found confiscation justified on the preponderance of probabilities. However, penalty proceedings under Section 112 were set aside for lack of specific sub clause identification in the show cause notice, and the penalty on a deceased appellant was quashed as personal.
Section 123's reverse evidential burden applies to seized melted or unmarked gold: once officers form a reasonable belief of smuggling, the possessor must prove lawful acquisition, and the adjudicator may examine the reasonableness of that belief and confidential intelligence. Because appellants failed to satisfactorily account for the seized gold and cash-documentary discrepancies, absence of customer records, fabricated post-seizure documents and unexplained forensic stock differences-the Tribunal found confiscation justified on the preponderance of probabilities. However, penalty proceedings under Section 112 were set aside for lack of specific sub clause identification in the show cause notice, and the penalty on a deceased appellant was quashed as personal.
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