Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Reasonable belief of smuggling must rest on objective material, not mere suspicion, and a town seizure of gold by itself carries less inferential weight than seizure at a customs station or notified area. On the facts, there were no foreign markings, no evidence of the smuggling route or melting place, no corroboration from follow-up searches, and the alleged licit purchase was not disproved at the seller's end; the goods were therefore not shown to be smuggled or liable to confiscation. A retracted statement could not sustain confiscation and penalties where the procedure under Section 138B was not followed and the statement was not otherwise proved. The appellate order was affirmed and the departmental appeals were dismissed.
Reasonable belief of smuggling must rest on objective material, not mere suspicion, and a town seizure of gold by itself carries less inferential weight than seizure at a customs station or notified area. On the facts, there were no foreign markings, no evidence of the smuggling route or melting place, no corroboration from follow-up searches, and the alleged licit purchase was not disproved at the seller's end; the goods were therefore not shown to be smuggled or liable to confiscation. A retracted statement could not sustain confiscation and penalties where the procedure under Section 138B was not followed and the statement was not otherwise proved. The appellate order was affirmed and the departmental appeals were dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
