Adverse inference from non-production of seized evidence - Classification of fish meal as finished or semi-finished - Sequential customs valuation - Undervaluation-proof of extra consideration Adverse inference from non-production of seized evidence - Classification of fish meal as finished or semi-finished - Adverse inference that imported fish meal was finished goods on account of non-production of laboratory material - HELD THAT: - The laboratory register, test reports and backup records r... ... ...

Penalty for attempted export of prohibited red sanders - Retracted statements and independent corroboration Penalty for attempted export of prohibited red sanders - Retracted statements and independent corroboration - Sustainability of penalty on an employee of a Customs House Clearing Agent for alleged involvement in the attempted export of prohibited red sanders, based solely on statements. - HELD THAT: - The allegations rested on statements without cogent corroborative evidence, and the ap... ... ...

Determination of iron content in exported iron ore fines - Additional legal ground at appellate stage - No estoppel against statute Wet Metric Ton basis for iron ore fines - Export duty classification of iron ore fines - Determination of Fe content of exported Iron Ore Fines for tariff classification and export-duty assessment where the Shipping Bills were filed prior to 01.05.2022. - HELD THAT: - Fe content of iron ore exported in moist condition must be determined with reference to its cond... ... ...

Customs valuation - written grounds for rejection of transaction value - Reassessment of imported goods - written acceptance and statutory right of appeal Rejection of transaction value - communication of grounds and comparable import data - Enhancement of the declared transaction value of imported polyester knitted fabrics on the basis of acceptance letters without disclosure of the grounds and contemporaneous import particulars - HELD THAT: - The requests for clearance on payment of duty un... ... ...

Strict compliance with customs exemption conditions for gold dore bars - Concurrent customs exemptions and certificate of origin requirements Gold dore bar import licence conditions - Strict construction of customs exemptions - Confiscation for breach of import conditions - Eligibility of imported gold dore bars for exemption under the notification mandated by the import licences, and the consequential confiscation and penalties for non-compliance - HELD THAT: - The import licences expressly ... ... ...

Consideration of subsequent policy circulars for discharge of export obligation - Corroborative evidence in lieu of Bill of Export for supplies to SEZ units Whether, in the case of supplies made to SEZ units under Advance Authorisation, the petitioner is required to produce the 'Bill of Export' as the only acceptable evidence for discharge of export obligation, notwithstanding the subsequent Circulars dated 07.06.2022 and 03.06.2024 permitting furnishing of corroborative evidence in lieu ther... ... ...

Departmental exoneration and criminal prosecution - Discharge-prima facie case and strong suspicion Departmental exoneration and criminal prosecution - Departmental exoneration of Customs officials accused of facilitating gold smuggling did not warrant their discharge from the criminal prosecution - HELD THAT: - Departmental and criminal proceedings are independent and are decided on the evidence adduced in the respective proceedings, the standard of proof in a departmental proceeding being l... ... ...

Redemption of confiscated goods - Non-quantification of applicable customs duty Redemption of confiscated gold bars - Non-quantification of applicable customs duty - Entitlement to redeem confiscated gold bars where the applicable customs duty was not quantified despite a timely request. - HELD THAT: - Although redemption must ordinarily be exercised within the stipulated period and failure may render confiscation absolute, the petitioner had sought quantification of the applicable duty withi... ... ...

Duty-free import licence - bona fide transferee for value - Voidable licence induced by fraud Scope of statutory appeal - unframed limitation ground - Availability of limitation as an independent ground in an appeal confined to the substantial question of law framed at admission - HELD THAT: - An appeal of this nature is ordinarily restricted to the substantial questions formulated at admission, although the Court may permit an additional question that genuinely arises from the record. As no ... ... ...

Summary order. The Special Leave Petition was dismissed, with pending applications disposed of.... ... ...

Rectification of mistake apparent from record - Arm's length price of interest on compulsorily convertible debentures Rectification of the direction for de novo benchmarking of interest on compulsorily convertible debentures after the debentures had been held to be wholly debt and the interest rate on their debt component had already been accepted as at arm's length - HELD THAT: - The earlier order rejected the artificial bifurcation of the compulsorily convertible debentures into deb... ... ...

Registration under section 12AB and/or approval under section 80G - Charitable registration - category-specific restoration - Subsequent registration under the Rajasthan Public Trust Act - Genuineness of charitable activities-adequate factual foundation - Curable defects in Form No. 10AB - Non-compliance in charitable registration proceedings-effective opportunity - Approval under section 80G-consequential restoration Subsequent registration under the Rajasthan Public Trust Act - Limited rest... ... ...

TP Adjustment - Arm's length price of corporate guarantee commission - Comparability of corporate and bank guarantees Arm's length guarantee commission for a corporate guarantee furnished by a parent/group company to facilitate borrowings of an overseas group entity - HELD THAT: - A corporate guarantee issued by a parent/group company for an associated enterprise cannot be routinely benchmarked against a commercial bank guarantee, since the two transactions differ in economic characte... ... ...

Section 153C assessment of non-searched person -commencement of six and ten-year block Validity of assessment under section 153C for AY 2012-13, where the ten-year block for a non-searched person was computed with reference to receipt of seized material by the jurisdictional Assessing Officer - HELD THAT: - The Tribunal held itself bound by the jurisdictional High Court decision Ojjus Medicare [2024 (4) TMI 268 - DELHI HIGH COURT] which, after considering the amendments made by the Finance Ac... ... ...

Relevance of prior Advance Pricing Agreement in transfer pricing benchmarking - Turnover filter for selection of comparables - Related party transaction filter - Arm's length range under TNMM Relevance of prior Advance Pricing Agreement in transfer pricing benchmarking - Evidentiary relevance of the prior Advance Pricing Agreement for benchmarking the software-distribution transaction in the year under consideration - HELD THAT: - Though the APA did not bind the authorities for a year out... ... ...

Mandatory draft assessment order for eligible foreign company - Vitiation of final assessment order for non-compliance with statutory procedure Validity of the final assessment order passed against an eligible foreign company without first forwarding a draft assessment order - HELD THAT: - A foreign company is an eligible assessee for the prescribed dispute-resolution procedure. Where a prejudicial variation is proposed, forwarding a draft assessment order is a mandatory statutory preconditio... ... ...

Rebate u/s 87A on short-term capital gains taxable at special rates Whether rebate under Section 87A is available against tax payable on short-term capital gains taxable at special rates under Section 111A where the assessee has opted for the regime under Section 115BAC(1A)? - HELD THAT: - The Tribunal followed the consistent decision of the ITAT Rajshree Kothari [2026 (9) TMI 1033 - ITAT JAIPUR] holding that rebate under section 87A is available against the tax liability computed on total in... ... ...

Rebate under section 87A on short-term capital gains taxable at special rates - Entitlement to rebate under section 87A in respect of tax payable on short-term capital gains taxable under section 111A HELD THAT: - Section 87A grants rebate from income-tax computed on total income and makes no distinction between income chargeable at normal rates and short-term capital gains chargeable at special rates. In the absence of an express exclusion in either section 87A or section 111A, and as the... ... ...

Unexplained expenditure - labour and manpower services supported by contemporaneous records - Unexplained expenditure - purchases returned and neutralised through closing stock Unexplained expenditure - labour and manpower services supported by contemporaneous records - Third-party non-compliance with notice - Addition as unexplained expenditure in respect of labour and manpower services obtained from a vendor that did not respond to notice - HELD THAT: - The assessee had produced invoices, G... ... ...

Addition for cash purchases of coal based on uncorroborated third-party material - Addition for alleged under-invoicing of mill scale sales based on retracted statement and presumptions Uncorroborated third-party material - Alleged unrecorded cash purchases of coal - Addition based on alleged unrecorded cash purchases of coal disclosed in third-party search material - HELD THAT: - The Assessing Officer accepted the assessee's sales, coal consumption and production and did not reject the b... ... ...