Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
CBDT Instruction No. 1916, though framed for non-seizure of jewellery during search, was treated as a relevant guideline recognising customary family holdings of jewellery. The Tribunal accepted that jewellery within the prescribed limits could not be regarded as unexplained investment merely because it was found during search, especially where the assessee furnished explanations supported by family holdings, a wealth-tax disclosure for the HUF, purchase bills, and statements recorded during search and assessment. On that basis, the addition under unexplained investment was directed to be deleted to the extent covered by the instruction.
CBDT Instruction No. 1916, though framed for non-seizure of jewellery during search, was treated as a relevant guideline recognising customary family holdings of jewellery. The Tribunal accepted that jewellery within the prescribed limits could not be regarded as unexplained investment merely because it was found during search, especially where the assessee furnished explanations supported by family holdings, a wealth-tax disclosure for the HUF, purchase bills, and statements recorded during search and assessment. On that basis, the addition under unexplained investment was directed to be deleted to the extent covered by the instruction.
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