Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Statements recorded under section 108 of the Customs Act could not be relied on to support undervaluation unless the procedure in section 138B was followed, including examination of the maker, a finding that admission was in the interests of justice, and an opportunity for cross-examination; absent that compliance, the statements were inadmissible. Electronic material retrieved from a laptop was also rejected because the seizure and handling were doubtful, retrieval was not properly shown to be in the presence of the concerned person, and the section 138C certificate was missing. With the contemporaneous import data wrongly discarded and no reliable proof of extra consideration or misdeclaration, rejection of transaction value, re-determination of duty, confiscation-related findings, and penalties could not stand.
Statements recorded under section 108 of the Customs Act could not be relied on to support undervaluation unless the procedure in section 138B was followed, including examination of the maker, a finding that admission was in the interests of justice, and an opportunity for cross-examination; absent that compliance, the statements were inadmissible. Electronic material retrieved from a laptop was also rejected because the seizure and handling were doubtful, retrieval was not properly shown to be in the presence of the concerned person, and the section 138C certificate was missing. With the contemporaneous import data wrongly discarded and no reliable proof of extra consideration or misdeclaration, rejection of transaction value, re-determination of duty, confiscation-related findings, and penalties could not stand.
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