Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
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Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Penalty under section 270A for alleged misreporting based on estimated gross profit additions could not be sustained where the Revenue relied on third-party electronic records seized in search without independent corroboration. The Tribunal held that the burden remained on the Revenue to substantiate the unmatched entries, and the assessee was not required to prove a negative. It also found that statements linked to the searched person could not be used conclusively against the assessee without corroborative material and cross-examination, and that the J-Pack ledger itself contained discrepancies. The penalties were deleted for all captioned assessment years, while the jurisdictional challenge to the section 153C assessment was left open.
Penalty under section 270A for alleged misreporting based on estimated gross profit additions could not be sustained where the Revenue relied on third-party electronic records seized in search without independent corroboration. The Tribunal held that the burden remained on the Revenue to substantiate the unmatched entries, and the assessee was not required to prove a negative. It also found that statements linked to the searched person could not be used conclusively against the assessee without corroborative material and cross-examination, and that the J-Pack ledger itself contained discrepancies. The penalties were deleted for all captioned assessment years, while the jurisdictional challenge to the section 153C assessment was left open.
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