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...
A retracted statement is not excluded merely because it is later withdrawn; it remains admissible if shown to be voluntary, the retraction is assessed on its own merits, and the reliance is supported by independent, cogent material. The Tribunal found no proof of coercion, accepted the statements recorded under FEMA as admissible, and held that liability did not rest on those statements alone. Seized notebooks, diaries, loose sheets, cash, and corroborating statements from others independently linked both appellants to the transaction, and the finding of contravention of Sections 3(b) and 3(c) of FEMA was upheld. The penalties were reduced, with the second appellant's pre-deposit adjusted against the reduced penalty.
A retracted statement is not excluded merely because it is later withdrawn; it remains admissible if shown to be voluntary, the retraction is assessed on its own merits, and the reliance is supported by independent, cogent material. The Tribunal found no proof of coercion, accepted the statements recorded under FEMA as admissible, and held that liability did not rest on those statements alone. Seized notebooks, diaries, loose sheets, cash, and corroborating statements from others independently linked both appellants to the transaction, and the finding of contravention of Sections 3(b) and 3(c) of FEMA was upheld. The penalties were reduced, with the second appellant's pre-deposit adjusted against the reduced penalty.
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