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...
In provisional release of seized imported goods, the CESTAT held that the adjudicating authority must exercise discretion judiciously under Section 110A and cannot impose bank guarantee conditions merely by executive instruction; finding the original demand disproportionately onerous, it retained a bond for the full value but reduced the bank guarantee. In the re-export context, the Tribunal held that security conditions at the provisional stage must be moderated where goods are not cleared for home consumption and final liability is undecided; it again retained a full-value bond while substantially lowering the bank guarantee, subject to adjudication.
In provisional release of seized imported goods, the CESTAT held that the adjudicating authority must exercise discretion judiciously under Section 110A and cannot impose bank guarantee conditions merely by executive instruction; finding the original demand disproportionately onerous, it retained a bond for the full value but reduced the bank guarantee. In the re-export context, the Tribunal held that security conditions at the provisional stage must be moderated where goods are not cleared for home consumption and final liability is undecided; it again retained a full-value bond while substantially lowering the bank guarantee, subject to adjudication.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
