Strict construction of customs exemptions denied concession for brake components, while limitation restricted differential duty to timely Bills of Ent...
Way Leave Permissions cannot be retrospectively revived through insolvency plans, and affected infrastructure holders require safety review and hearin...
Inter-terminal container movement requires customs escort, permit reconciliation, and indemnity, while delayed DPD cargo may move to designated CFS ya...
Year-wise GST tax periods make composite show cause notices impermissible, requiring separate proceedings despite contrary non-jurisdictional preceden...
Diversion of income by overriding title arose where a collaboration agreement, banking records, ledger accounts and supporting material established the collaborator's entitlement to a share of flat-sale proceeds. That share did not accrue as the assessee's income because the agreement imposed an overriding obligation; procedural non-compliance, stamp-paper objections, lack of witnesses or doubts about expertise did not establish a fictitious income-diversion device. The resulting addition was deleted. Land acquisition cost could not be disallowed on the basis that it was absent from the books, since the books recorded the land and the purchase deed substantiated acquisition. The unexplained-source inference and related disallowance were deleted.
Diversion of income by overriding title arose where a collaboration agreement, banking records, ledger accounts and supporting material established the collaborator's entitlement to a share of flat-sale proceeds. That share did not accrue as the assessee's income because the agreement imposed an overriding obligation; procedural non-compliance, stamp-paper objections, lack of witnesses or doubts about expertise did not establish a fictitious income-diversion device. The resulting addition was deleted. Land acquisition cost could not be disallowed on the basis that it was absent from the books, since the books recorded the land and the purchase deed substantiated acquisition. The unexplained-source inference and related disallowance were deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4921 
