Freezing of bank account under Customs Act - Statutory maximum period for freezing of bank account Continuation of freezing of the petitioner's bank account after expiry of the maximum period prescribed under section 110(5) of the Customs Act - HELD THAT: - A bank account may initially be frozen for six months and its freezing may be extended for a further six months upon reasons recorded in writing. The issuance of a show-cause notice by the adjudicating authority did not preserve the au... ... ...

Statutory exclusion of High Court appellate jurisdiction over customs rate-of-duty questions - exemption from customs duty on stores imported for salvage operations Maintainability of appeals before the High Court where the questions concerning exemption of stores imported for vessel-salvage operations relate to the rate of customs duty - HELD THAT: - The exclusion under Sections 130 and 130E has a wide sweep: the expressions "any" and "among other things" encompass not merely a direct rate q... ... ...

Alternative statutory remedy - Disclosure of relied-upon test reports - Maintainability of the writ petition challenging the provisional-release order concerning seized dry areca nuts on the ground that the test reports relied upon had not been supplied HELD THAT: - Following disclosure during the hearing of one of the reports relied upon by the Customs authorities, the Court found no ground to remand the matter at that stage, particularly when a statutory appellate remedy against the provisi... ... ...

Customs adjudication limitation - effect of interim stay under Section 28(9A) - Statutory consequence of interim stay under Section 28(9A) - Call Book transfer - Timeliness of adjudication of a customs duty demand where the noticees sought deferment pending a connected writ petition and interim protection HELD THAT: - Section 28(9A) makes the statutory period run from cessation of a specified circumstance preventing determination; a Call Book transfer is merely an administrative consequence a... ... ...

Summary order. The Special Leave Petition was disposed of without interference, with clarification that the Appellate Authority shall decide the case on its own merits uninfluenced by the High Court's observations.... ... ...

TP Adjustment - AE segmental benchmarking under TNMM - Interest on compulsorily convertible debentures pending conversion AE segmental benchmarking under TNMM - Acceptance of segmental results - Acceptance of AE and non-AE segmental results for benchmarking IT and IT-enabled services rendered to associated enterprises - HELD THAT: - The segmental results formed part of the transfer-pricing study, and the subsequently furnished certified segmental information was placed before completion of th... ... ...

Penalty for under-reporting of income where return is filed pursuant to reassessment notice - Consistency in penalty proceedings on identical facts Levy of penalty for under-reporting of income where the return filed in response to reassessment notice was accepted without any addition - HELD THAT: - The returned income filed in response to the reassessment notice was accepted in assessment without any addition, while the penalty order did not explain how the accepted income constituted under-... ... ...

Validity of reassessment on information obtained in scrutiny of another assessment year - Year of taxability of capital gains on transfers under separate registered sale deeds - Fresh deduction claims before appellate authorities - Relief against double taxation of capital gains - Penalty for disclosure of capital gains in an incorrect assessment year Validity of reassessment on information obtained in scrutiny of another assessment year - Validity of reassessment for capital gains where the ... ... ...

Reassessment jurisdiction founded on factually erroneous non-filer status - Non-application of mind in recording reasons for reassessment Validity of reassessment initiated by treating the assessee as a non-filer despite a return of income having been filed - HELD THAT: - The Assessing Officer ignored the return filed under section 139(1), failed to examine the material available on record, and proceeded solely on Insight-portal information to assume that the assessee was a non-filer. The sat... ... ...

De novo assessment on incomplete evidentiary record - Ex parte order - capital-gains assessment where the assessee had not furnished the agreement for sale, diversion orders and other material necessary to examine the claim concerning sale of rural agricultural land and the alternative claim for reinvestment HELD THAT: - The assessment was made ex parte and the assessee had remained non-compliant before both the assessing authority and the first appellate authority. As material documents, inc... ... ...

Appropriation of partial income-tax refunds towards interest and tax components - Interest on delayed income-tax refunds - Priority of appropriation where a partial refund comprises excess tax and interest payable on the refund Whether CIT(A) has erred in adjusting the refund amount first against interest payable u/s 244A of the Act instead of adjusting the same first towards the tax component, where there is no express provision in the statute stating so? - HELD THAT: - Although the statute ... ... ...

TDS on interest paid to statutory universities and statutory board - TDS exemption for wholly Government-owned companies - Beneficial ownership of Government-scheme funds - Verification of declarations and certificates for non-deduction of tax Statutory corporations as notified recipients of interest - Liability to deduct tax on interest paid or credited to universities constituted under State enactments and to the Tamil Nadu Water Supply and Drainage Board - HELD THAT: - A corporation covere... ... ...

Regular approval under section 80G - delayed filing of Form No. 10AB - Irrevocability of public charitable trusts - absence of express clause - Specified violation - declaration in Form No. 10AB Delayed filing of Form No. 10AB for regular approval under section 80G by an institution holding provisional approval - HELD THAT: - Though statutory extensions could not automatically operate beyond their prescribed period, the practical difficulty underlying the transitional approval regime was rele... ... ...

Admission of additional grounds requiring fresh factual inquiry - Assessment limitation-unsubstantiated allegation of back-dating - Document Identification Number-defect in quoting - Service of statutory notice-deemed valid service on participation - Capital gains on transfer through registered sale deed - Computation of long-term capital gains-cost of acquisition Admission of additional grounds requiring fresh factual inquiry - E-proceedings scheme - Admission of the additional ground challe... ... ...

Levy of penalty u/s 271(1)(b) for non-compliance with statutory notices - reasonable cause arising from erroneous PAN allotment - Concealment penalty consequential to deleted quantum additions - Tax-audit compliance under correct PAN despite duplicate PAN allotment - Penalty for non-filing of return under incorrect PAN Penalty for non-compliance with statutory notices - reasonable cause arising from erroneous PAN allotment - Sustainability of penalty for non-compliance with statutory notices ... ... ...

Working capital adjustment in transfer pricing - Additional claim for section 80G deduction on CSR contribution Working capital adjustment in transfer pricing - Reasonably accurate adjustment under Rule 10B(3) - Working capital adjustment for differences in inventory, trade receivables and trade payables between the tested party and comparable companies - HELD THAT: - Working capital adjustment neutralises the effect of differences in inventory, receivables and payables that may affect operat... ... ...

Reassessment based on specific investigation information - Unexplained cash credit-unsecured loan from alleged accommodation-entry lender - Carry-forward of business losses-proof of statutory conditions Reassessment based on specific investigation information - Reason to believe-live nexus with alleged escaped income - Validity of reassessment initiated on information concerning an unsecured loan received from an entity alleged to provide accommodation entries - HELD THAT: - The information a... ... ...

Penalty for misreporting of income - specific charge and notice - Distinction between under-reporting and misreporting of income - charge materially different from the one with which the assessee was confronted Validity of penalty for misreporting of income where the penalty proceedings and statutory notice were initiated only for under-reporting of income - HELD THAT: - Under-reporting of income and under-reporting resulting from misreporting are distinct statutory defaults, carrying differe... ... ...

Unexplained investment - documented loan received through banking channels - Fresh appellate adjudication - failure to appreciate material evidence Unexplained investment - loan from sister - Addition as unexplained investment in respect of a loan received from the assessee's sister - HELD THAT: - The assessee had furnished the lender's PAN, loan confirmation and bank statement showing receipt through banking channels. Those documents were already before the Assessing Officer, who nei... ... ...

TP Adjustment - Intra-group services - TNMM - Arm's length interest on external commercial borrowings - Site restoration expenditure-business deduction - Interest liability where tax is deducted at source Transfer pricing adjustment - Intra-group services - TNMM - Consistency in transfer-pricing determinations - Transfer-pricing adjustment for intra-group services and, for AY 2019-20, related disallowances of branch-office expenditure and depreciation/depletion, where the facts and busine... ... ...