Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
In retail liquor business out-of-books transactions, only the profit element embedded in the unaccounted activity was held taxable, not the gross purchases or duplicated sales stream. The Tribunal found a close nexus between unaccounted purchases, unaccounted sales and cash collections, and restricted the addition to 3% of the relevant unaccounted transactions while deleting the separate substantive and protective additions based on gross purchases and related advances. It further held that cash already deposited in regular bank accounts could not again be treated as unaccounted sales, so the balance alone was subject to 3% estimation. Cash found at the premises was also deleted where the cash book explained availability and telescoping of estimated income was accepted.
In retail liquor business out-of-books transactions, only the profit element embedded in the unaccounted activity was held taxable, not the gross purchases or duplicated sales stream. The Tribunal found a close nexus between unaccounted purchases, unaccounted sales and cash collections, and restricted the addition to 3% of the relevant unaccounted transactions while deleting the separate substantive and protective additions based on gross purchases and related advances. It further held that cash already deposited in regular bank accounts could not again be treated as unaccounted sales, so the balance alone was subject to 3% estimation. Cash found at the premises was also deleted where the cash book explained availability and telescoping of estimated income was accepted.
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