CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
In bogus purchase matters, the ITAT held that disallowance could not rest solely on search statements where section 133(6) notices were complied with and confirmations, returns and Form 16A were produced; with sales not treated as unexplained and the books not rejected, deletion of the major disallowance was upheld. For two parties that did not respond and did not furnish confirmations or returns, the Tribunal sustained only a 5% disallowance on the remaining purchases, without precedent effect. In the unexplained money issue, ticket sale receipts were duly explained on record, so deletion of the section 69A addition was confirmed. The Revenue's appeals failed.
In bogus purchase matters, the ITAT held that disallowance could not rest solely on search statements where section 133(6) notices were complied with and confirmations, returns and Form 16A were produced; with sales not treated as unexplained and the books not rejected, deletion of the major disallowance was upheld. For two parties that did not respond and did not furnish confirmations or returns, the Tribunal sustained only a 5% disallowance on the remaining purchases, without precedent effect. In the unexplained money issue, ticket sale receipts were duly explained on record, so deletion of the section 69A addition was confirmed. The Revenue's appeals failed.
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