Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Imported goods declared as apatite calcium phosphate were held classifiable under CTI 2835 26 90, because Chapter 25 covers only natural products in crude form or products processed merely mechanically or physically, while the evidence showed calcination and chemical additions. Documentary material, including supplier emails and the importer's own conduct in seeking removal of calcination references, established deliberate misdescription; the differential duty with interest was therefore upheld. Since the goods did not match the Bills of Entry, confiscation under section 111(m) and redemption fine were sustained. Intentional misclassification to evade duty attracted penalty under section 114A, and the penalties on the director and manager were also upheld for manipulating and assisting in false customs documentation.
Imported goods declared as apatite calcium phosphate were held classifiable under CTI 2835 26 90, because Chapter 25 covers only natural products in crude form or products processed merely mechanically or physically, while the evidence showed calcination and chemical additions. Documentary material, including supplier emails and the importer's own conduct in seeking removal of calcination references, established deliberate misdescription; the differential duty with interest was therefore upheld. Since the goods did not match the Bills of Entry, confiscation under section 111(m) and redemption fine were sustained. Intentional misclassification to evade duty attracted penalty under section 114A, and the penalties on the director and manager were also upheld for manipulating and assisting in false customs documentation.
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