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...
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The HC held that penalty for detention of goods in transit was unsustainable where the record showed movement under a tax invoice, e-way bill and consignee note, and the petitioner was treated as the consignee-owner. In the absence of any allegation or material of fraud in the accompanying documents, the authorities could not ignore the transport documents or proceed against the petitioner as another person. Subsequent cancellation of registration, having occurred after the invoice and loading of goods, did not justify the penalty. The impugned orders were set aside and the matter remitted for fresh consideration after hearing the petitioner.
The HC held that penalty for detention of goods in transit was unsustainable where the record showed movement under a tax invoice, e-way bill and consignee note, and the petitioner was treated as the consignee-owner. In the absence of any allegation or material of fraud in the accompanying documents, the authorities could not ignore the transport documents or proceed against the petitioner as another person. Subsequent cancellation of registration, having occurred after the invoice and loading of goods, did not justify the penalty. The impugned orders were set aside and the matter remitted for fresh consideration after hearing the petitioner.
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