Clubbing of income from gifted property failed where the claim surfaced after reassessment limitation, sustaining capital-gains assessment in spouse's...
Employee stock-option discount qualifies as revenue expenditure, while royalty and service comparables require reliable functional and transactional b...
Special insurance income computation preserves statutory deductions while limiting transfer-pricing, withholding and disallowance adjustments for gene...
Classification of imported stainless-steel melting scrap requires consignment-specific, reliable evidence; test reports for later consignments cannot displace a separately finalised assessment. Pre-shipment inspection and Chartered Engineer reports identifying goods as scrap remain material where chemical or laboratory evidence is inadequate, and buyer statements not tested under the prescribed evidentiary procedure cannot establish prime material. Uniform dimensions or orderly stacking do not alone establish prime material, while revaluation requires support for additional consideration. Goods cleared without bond or undertaking and unavailable for confiscation cannot be absolutely confiscated. Director penalties require a specific basis for personal responsibility. All consignments were treated as scrap, with enhanced values, confiscation and penalties set aside; demurrage waiver was directed for detained goods.
Classification of imported stainless-steel melting scrap requires consignment-specific, reliable evidence; test reports for later consignments cannot displace a separately finalised assessment. Pre-shipment inspection and Chartered Engineer reports identifying goods as scrap remain material where chemical or laboratory evidence is inadequate, and buyer statements not tested under the prescribed evidentiary procedure cannot establish prime material. Uniform dimensions or orderly stacking do not alone establish prime material, while revaluation requires support for additional consideration. Goods cleared without bond or undertaking and unavailable for confiscation cannot be absolutely confiscated. Director penalties require a specific basis for personal responsibility. All consignments were treated as scrap, with enhanced values, confiscation and penalties set aside; demurrage waiver was directed for detained goods.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4902 
