Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
Centralised assessment transfer becomes unwarranted once the searched person's assessment is complete, requiring restoration to the appropriate charge...
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Addition treated as unexplained cash credit on an unsecured loan was deleted because the lender's identity, creditworthiness based on its financials, and the genuineness of the loan transaction from an NBFC had already been accepted on identical facts in a coordinate Bench decision. The Tribunal held that the Commissioner (Appeals) had sustained the addition mainly by relying on an order in a group concern's case involving the same lender, but that foundation no longer survived after the earlier order was reversed. Applying the same reasoning, the loan from M/s Sundram Consultants Pvt. Ltd. was not liable to be assessed as unexplained cash credit.
Addition treated as unexplained cash credit on an unsecured loan was deleted because the lender's identity, creditworthiness based on its financials, and the genuineness of the loan transaction from an NBFC had already been accepted on identical facts in a coordinate Bench decision. The Tribunal held that the Commissioner (Appeals) had sustained the addition mainly by relying on an order in a group concern's case involving the same lender, but that foundation no longer survived after the earlier order was reversed. Applying the same reasoning, the loan from M/s Sundram Consultants Pvt. Ltd. was not liable to be assessed as unexplained cash credit.
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