Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
Penalty under section 112(b) was unsustainable because the essential element of knowledge that the goods were liable to confiscation was not proved. The appellant had purchased the branded watches locally from the importer, was not involved in the import declaration process, and stated that the price revision followed the importer's price list. In the absence of documentary evidence showing awareness of the retail sale price declared at import or the duty position, the Tribunal held that mens rea could not be presumed. The penalty was set aside and the appeal was allowed.
Penalty under section 112(b) was unsustainable because the essential element of knowledge that the goods were liable to confiscation was not proved. The appellant had purchased the branded watches locally from the importer, was not involved in the import declaration process, and stated that the price revision followed the importer's price list. In the absence of documentary evidence showing awareness of the retail sale price declared at import or the duty position, the Tribunal held that mens rea could not be presumed. The penalty was set aside and the appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
