Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Section 153C could not be invoked where the satisfaction note relied only on documents said to belong to the assessee but did not show that they were incriminating or relevant to the assessment year in question; the proceedings were therefore invalid. On the taxability of the land sale, a solitary sale of agricultural land was not treated as an adventure in the nature of trade, and rural agricultural land outside section 2(14)(iii) remained outside the capital asset definition. The Revenue could not convert the transaction into business income merely by referring to the purchaser's later non-agricultural use of the land. The addition was held unsustainable.
Section 153C could not be invoked where the satisfaction note relied only on documents said to belong to the assessee but did not show that they were incriminating or relevant to the assessment year in question; the proceedings were therefore invalid. On the taxability of the land sale, a solitary sale of agricultural land was not treated as an adventure in the nature of trade, and rural agricultural land outside section 2(14)(iii) remained outside the capital asset definition. The Revenue could not convert the transaction into business income merely by referring to the purchaser's later non-agricultural use of the land. The addition was held unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
