Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
Transfer-pricing comparability requires functional alignment; delayed associated-enterprise receivables need separate LIBOR-based benchmarking, while ...
Extended reassessment limitation in search cases requires asset-linked escaped income, invalidating additions based only on unexplained money or expen...
Enhanced tolerance band under section 43CA applies retrospectively, deleting qualifying deemed-sale additions while disputed stamp valuation requires ...
For non-notified betel nuts, the burden under Section 123 remains on Revenue to prove their smuggled character and cannot be discharged by assumptions, presumptions or uncorroborated statements. Transport documents identifying consignors in Mizoram and consignees in West Bengal do not establish cross-border movement. An expert opinion that samples merely appear to originate from the North-East, including the Myanmar region, is inconclusive of Myanmar origin. Without reliable proof of foreign origin and illicit importation, absolute confiscation of the goods and consequential penalties cannot be sustained.
For non-notified betel nuts, the burden under Section 123 remains on Revenue to prove their smuggled character and cannot be discharged by assumptions, presumptions or uncorroborated statements. Transport documents identifying consignors in Mizoram and consignees in West Bengal do not establish cross-border movement. An expert opinion that samples merely appear to originate from the North-East, including the Myanmar region, is inconclusive of Myanmar origin. Without reliable proof of foreign origin and illicit importation, absolute confiscation of the goods and consequential penalties cannot be sustained.
Note: It is a system-generated summary and is for quick reference only.