Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
An appeal under the customs revision regime was held maintainable because the person concerned was neither a passenger, crew member nor a transfer-of-residence case, and the baggage provisions relied on by the Department were inapplicable. On merits, the Tribunal found the adjudicating authority's exoneration of the appellant to be a reasonable view, since the alleged statement had been retracted, the electronic chats did not show any direction to smuggle watches, and no corroborative evidence or admission linked him to the alleged racket. The Commissioner (Appeals) was faulted for remanding the matter without addressing those findings, so the remand was set aside and the exonerating order restored.
An appeal under the customs revision regime was held maintainable because the person concerned was neither a passenger, crew member nor a transfer-of-residence case, and the baggage provisions relied on by the Department were inapplicable. On merits, the Tribunal found the adjudicating authority's exoneration of the appellant to be a reasonable view, since the alleged statement had been retracted, the electronic chats did not show any direction to smuggle watches, and no corroborative evidence or admission linked him to the alleged racket. The Commissioner (Appeals) was faulted for remanding the matter without addressing those findings, so the remand was set aside and the exonerating order restored.
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