https://www.taxtmi.com/caselaws?id=9059 Clarifies whether records of criminal court proceedings and Evidence Act principles are admissible in tax assessment proceedings, holding that applicability depends on whether the procedural provision post-dates the assessment year and on statutory scope, with retrospective application not presumed. States that inference of ownership from possession during seizure requires evidentiary support and cannot be automatic. Holds that smuggled goods confiscated by customs are not eligible for business loss deduction and set off provisions are constrained where goods are contraband or confiscated, thereby restricting tax relief arising from confiscation. en-us Mon, 19 Feb 1973 00:00:00 +0530 Fri, 23 Jan 2026 15:35:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9059 Clarifies whether records of criminal court proceedings and Evidence Act principles are admissible in tax assessment proceedings, holding that applicability depends on whether the procedural provision post-dates the assessment year and on statutory scope, with retrospective application not presumed. States that inference of ownership from possession during seizure requires evidentiary support and cannot be automatic. Holds that smuggled goods confiscated by customs are not eligible for business loss deduction and set off provisions are constrained where goods are contraband or confiscated, thereby restricting tax relief arising from confiscation. Case-Laws Income Tax Mon, 19 Feb 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9059