Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Customs Broker association membership becomes mandatory in the operating jurisdiction, with exclusive membership and limited compliance-time relaxatio...
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A technical defect in the CBDT-prescribed format of notice under section 143(2) was held insufficient, by itself, to invalidate the assessment, as the format instruction was not binding on the Tribunal. On merits, cash receipts arising from accepted sales and recorded trade debtors could not be treated as unexplained money under section 69A where the books, sale bills and purchase records showed genuine business transactions; an addition based only on the cash-sales-to-cash-deposit ratio during demonetisation was rejected, and double taxation of the same business receipts was impermissible. The Tribunal also held that section 68 could not be invoked for credits representing realisation of existing trade debtors, not fresh loans or advances, so that addition was deleted.
A technical defect in the CBDT-prescribed format of notice under section 143(2) was held insufficient, by itself, to invalidate the assessment, as the format instruction was not binding on the Tribunal. On merits, cash receipts arising from accepted sales and recorded trade debtors could not be treated as unexplained money under section 69A where the books, sale bills and purchase records showed genuine business transactions; an addition based only on the cash-sales-to-cash-deposit ratio during demonetisation was rejected, and double taxation of the same business receipts was impermissible. The Tribunal also held that section 68 could not be invoked for credits representing realisation of existing trade debtors, not fresh loans or advances, so that addition was deleted.
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