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...
ITAT held that investment in the new residential flat was evidenced by registered purchase documents, supported by stamp duty and registration payments, banking entries, and the vendor's confirmation of receipt through banking channels. The authorities erred in treating the investment as unexplained merely because cheques were encashed later and in doubting the lease arrangement without showing the registered deed was sham or fraudulent. The reinvestment for capital gains exemption, made within the prescribed period, was therefore allowable and the related addition under unexplained money provisions was deleted. ITAT also deleted the addition for cash deposits, accepting the cash received on sale of the original flat and the balance explained by sale of household goods and current cash balance.
ITAT held that investment in the new residential flat was evidenced by registered purchase documents, supported by stamp duty and registration payments, banking entries, and the vendor's confirmation of receipt through banking channels. The authorities erred in treating the investment as unexplained merely because cheques were encashed later and in doubting the lease arrangement without showing the registered deed was sham or fraudulent. The reinvestment for capital gains exemption, made within the prescribed period, was therefore allowable and the related addition under unexplained money provisions was deleted. ITAT also deleted the addition for cash deposits, accepting the cash received on sale of the original flat and the balance explained by sale of household goods and current cash balance.
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