Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
For notified goods such as gold, seizure on reasonable belief initially shifts the burden to the person concerned to prove lawful acquisition under Section 123. The appellate authority's absolute release of the seized gold was unsustainable because it accepted books, invoices and GST records without correlating the entries or addressing discrepancies and the admitted fabrication of invoices and stock records. The order was therefore set aside and the matter remanded for fresh examination of the documentary evidence and the Revenue's grounds. The limitation objection to the show-cause notice was rejected, as the notice was covered by the statutory extension under the relaxation law and the objection had not been raised below.
For notified goods such as gold, seizure on reasonable belief initially shifts the burden to the person concerned to prove lawful acquisition under Section 123. The appellate authority's absolute release of the seized gold was unsustainable because it accepted books, invoices and GST records without correlating the entries or addressing discrepancies and the admitted fabrication of invoices and stock records. The order was therefore set aside and the matter remanded for fresh examination of the documentary evidence and the Revenue's grounds. The limitation objection to the show-cause notice was rejected, as the notice was covered by the statutory extension under the relaxation law and the objection had not been raised below.
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