Burden of proof for notified gold - Confiscation of alleged smuggled gold - Proof of foreign-origin and illicit importation - Reliability of retracted statements - Cross-examination of relied-upon witnesses Whether the seized re-melted gold was proved to be foreign-origin smuggled goods liable to confiscation, and whether consequential penalties could be sustained? - HELD THAT: - The statutory burden concerning notified goods arises only where seizure is founded on a reasonable belief, suppor... ... ...

Condonation of delay in filing appeal - Exclusion of time spent in bona fide proceedings before wrong forum Whether the delay in filing the appeal should be excused after excluding the period spent bona fide in writ and special leave proceedings before other forums? - HELD THAT: - Section 14 of the Limitation Act permits exclusion of the period spent bona fide in prosecuting proceedings before a forum believed to be the appropriate remedy. The appellant had pursued writ jurisdiction and there... ... ...

Rejection of declared transaction value under Customs Valuation Rules - Effect of acceptance of reassessed customs value on statutory appeal Rejection of the declared transaction value of imported polyester knitted fabrics and enhancement based on alleged contemporaneous imports without written disclosure of the grounds and comparable data - HELD THAT: - The mandatory requirement to communicate in writing the grounds for doubting the truth or accuracy of the declared value cannot be waived. T... ... ...

Redemption fine for declared goods used to conceal undeclared imports - Penalty for misdeclaration of imported goods Confiscation of goods used for concealment - Redemption fine - Redemption fine on declared garments used to conceal undeclared imported goods - HELD THAT: - The declared goods had accompanied and been used for concealment of substantial quantities of undeclared goods sought to be imported in breach of trade and intellectual-property laws. Their confiscability and release on pay... ... ...

Rejection of declared transaction value in absence of evidence of misdeclaration - Bona fide wrong shipment by foreign supplier - Compliance with packaged-commodity labelling requirements before clearance Rejection of declared transaction value in absence of evidence of misdeclaration - Bona fide wrong shipment by foreign supplier - Enhancement of the declared value of imported goods where men's underwear was wrongly shipped in place of the ordered children's garments - HELD THAT: - T... ... ...

Adjustment of SAD refund against non-final duty drawback demand - Interest on delayed refund Adjustment of sanctioned SAD refund against a duty drawback demand that had not attained finality - HELD THAT: - The Department admitted that the duty drawback demand against which the SAD refund had been appropriated stood completely dropped under a fresh adjudication order. Tribunal applied the principle that a refund cannot be adjusted against a demand at the initial stage of its confirmation, s... ... ...

DCF valuation of share premium u/s 56(2)(viib) - Occupancy certificate and deduction of borrowing costs - Advertisement and marketing expenditure for commercial space DCF valuation of share premium u/s 56(2)(viib) - Rejection of DCF method in favour of NAV method - Addition for excess share premium received on issue of shares to resident shareholders, based on substitution of the Discounted Cash Flow valuation by the Net Asset Value method - HELD THAT: - The Discounted Cash Flow method adopte... ... ...

Statutory exclusion from registration under Rajasthan Public Trust Act - Registration under section 12AB and approval under section 80G -Compliance with applicable law for charitable registration and approval Rejection of applications for registration under section 12AB and approval under section 80G solely on absence of registration under the Rajasthan Public Trust Act, without determining the claimed statutory exclusion under section 77(1) - HELD THAT: - An enquiry into compliance with anot... ... ...

Failure to dispose of appellate grounds on merits - Speaking appellate order - assessment order was made u/s 147 r.w.s. 144 r.w.s. 144B of the Act and the assessee could not file proper response Whether the appeal required restoration for adjudication on merits of the valuation and cost-of-acquisition grounds? - HELD THAT: - The Tribunal considered it appropriate to restore the appeal for disposal of all grounds on merits through a speaking order, after affording the assessee reasonable oppor... ... ...

Depreciation on block of assets - Disallowance of expenditure relating to exempt income - Demurrage adjustment in export sale consideration - Write-off of irrecoverable business advances - Revenue expenditure on public infrastructure - Commercial expediency of employee training expenditure - Business expenditure on community welfare - Compensatory afforestation expenditure - Retrospective amendment and withholding-tax liability - Obsolete inventory write-off - Current repairs to vessel - Additio... ... ...

Revenue expenditure capitalised as capital work-in-progress - Cross-border telecom services-royalty, fees for technical services and withholding tax Revenue expenditure capitalised as capital work-in-progress - Accounting treatment and tax deductibility - disallowance representing operational expenditure which, though capitalised in the books of account under the head Capital Work-in-Progress ("CWIP"), was claimed as revenue expenditure in computing the taxable income - HELD THAT: - The accou... ... ...

Foreign tax credit - claim denied on delayed furnishing of Form No. 67 HELD THAT: - Section 90 confers substantive relief against double taxation, while Form No. 67 serves to furnish the particulars required for giving effect to that relief. Rule 128(9), as applicable, stipulated the time for furnishing the form but did not provide for forfeiture of an otherwise admissible foreign tax credit upon delayed compliance. The subsequent extension of time for furnishing Form No. 67 supported the pro... ... ...

Taxability of brought-forward capital balance - Unexplained on-money payment for immovable property - Section 68 and aggregate sundry creditor balances - Taxability of recorded sundry debtors Taxability of brought-forward capital balance - Correction of accounting error during assessment - Addition for the alleged variation in the proprietor's capital account based on an erroneous balance-sheet figure - HELD THAT: - The corrected opening capital was demonstrably traceable to the closing c... ... ...

Section 10AA deduction claim - De novo adjudication on documentary evidence - adjudication of the claim for deduction u/s 10AA in respect of export-related receipts, interest income and foreign exchange was required HELD THAT: - The assessee had not complied with the assessment proceedings and had failed to furnish documentary material substantiating its claim. Further, the appellate authority had partly allowed and partly disallowed the claim without obtaining a remand report from the Assess... ... ...

Period of Limitation for making assessment order - addition based on the difference between rental receipts in Form 26AS and the books ​​​​​​- Interest deduction on refinancing of property loan Limitation for making assessment order - Validity of the assessment order on the ground that its postal dispatch occurred after expiry of the statutory period - HELD THAT: - Where the statutory provision requires that an assessment order be "made" within the prescrib... ... ...

Renewal of registration u/s 12AB - Charitable purpose - interest-free housing assistance to financially needy persons - Section 80G approval consequential upon registration proceedings Renewal of registration u/s 12AB - Charitable purpose - interest-free housing assistance to financially needy persons - Renewal of registration under section 12AB for a trust providing interest-free repayable housing assistance to financially needy persons - HELD THAT: - Relief of the poor may include genuine f... ... ...

Unexplained money u/s 69A - Cash deposits from agricultural produce - Whether Cash deposits claimed to represent proceeds of vegetables and fruits sold through the State-controlled APMC market could be treated as unexplained money? - HELD THAT: - The assessee's ownership and cultivation of agricultural land stood supported by RTC and pahani records, while the APMC sale bills evidenced sale of agricultural produce and receipt of cash. Non-mention of the crop in records maintained by State ... ... ...

Foreign tax credit denied - delayed furnishing of Form No. 67 - Directory procedural requirement HELD THAT: - Rule 128(9) prescribes the time for furnishing Form No. 67 but does not provide that delayed furnishing entails denial of foreign tax credit. Neither section 90 nor section 91 prescribes such timeline, while Rule 128 itself specifies the circumstances in which credit is unavailable. In the absence of an adverse consequence for non-compliance, the requirement was held directory; the su... ... ...

Deduction of charitable expenditure from income from other sources - Expenditure incurred for charitable objects Allowability of donations made in furtherance of charitable objects as a deduction from income assessed under the head "Income from Other Sources", where exemption under sections 11 and 12 was not claimed - HELD THAT: - Where exemption is unavailable and the income of a charitable entity is assessed under the residuary head, section 57(iii) must be given effect in computing its tax... ... ...

Unexplained jewellery - ancestral and self-owned holdings supported by historical records - Brokerage deduction under capital gains exemption-payment to Hindu undivided family for personal services Unexplained jewellery - ancestral and self-owned holdings supported by historical records - Suspicion cannot substitute proof - Addition for jewellery disclosed in Schedule AL as unexplained under section 69A despite historical wealth-tax records, valuation reports and family-distribution evidence ... ... ...