Customs valuation and import permissibility conflict resolved: accepted enhancement of transaction value removes liability for confiscation and penalt...
Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
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An inchoate agreement to sell, lacking execution by both parties and showing patent ambiguity, could not be treated as conclusive evidence of receipt of unaccounted on-money. The Tribunal held that an admission must be clear, unambiguous and unconditional, and that the seized document, without material particulars such as witness details or the drafter's identity and without the beneficiary's participation, did not justify an inference of undisclosed cash receipts. The additions based on that document were therefore deleted, and the consequential penalty was also deleted.
An inchoate agreement to sell, lacking execution by both parties and showing patent ambiguity, could not be treated as conclusive evidence of receipt of unaccounted on-money. The Tribunal held that an admission must be clear, unambiguous and unconditional, and that the seized document, without material particulars such as witness details or the drafter's identity and without the beneficiary's participation, did not justify an inference of undisclosed cash receipts. The additions based on that document were therefore deleted, and the consequential penalty was also deleted.
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