IGST rate on imported bulk drugs/active pharmaceutical ingredients - Specific description-based drug entry prevailing over general chemical entries Bulk drugs/active pharmaceutical ingredients as "drugs and medicines" - Coverage of bulk drugs/Active Pharmaceutical Ingredients under the expression "All Drugs and medicines" in the IGST rate entry - HELD THAT: - As neither the rate notification nor the Customs Act defines "drugs", the Authority applied the statutory definitions governing pharmac... ... ...

Classification of woven man-made fibre label tapes - IGST on imported textile labels Classification of woven man-made fibre label tapes - Woven labels excluded from narrow woven fabrics - Classification of coated or processed woven rolls of man-made textile material, intended exclusively for use as garment labels, under the heading for labels and similar textile articles OR narrow woven fabrics, and under the specific entry for man-made fibre rather than the residual entry - HELD THAT: - Head... ... ...

Benefit of concessional rate of duty - import of lithium-iron cells for use in manufacturing of battery packs of cellular mobile phone which get subsequently scrapped during the manufacturing process - End-use based customs duty concession - Manufacturing-process scrap as unutilised or defective goods - Recovery of differential customs duty on scrapped inputs Concessional duty on lithium-ion cells for battery manufacture - Unutilised or defective goods under the IGCR Rules - Eligibility for c... ... ...

Classification of Excalibur Hybrid X archery crossbow - classifiable under Customs Tariff Item 9506 99 90 as sports or outdoor-game equipment, or under Heading 9304 as other arms HELD THAT: - Applying the General Rules for Interpretation, the Authority held that the goods, being a bow-based archery article using limbs and string to propel arrows or bolts through stored mechanical energy, are excluded from Chapter 93. The HSN Explanatory Notes to Heading 9506 specifically include archery equip... ... ...

Classification of Protector Tube - HSN Explanatory Notes in customs tariff classification - Tariff classification of PVC Protector Tube by constituent material - Classification of brake hose components as motor-vehicle parts - Extended limitation and penalty for intentional customs misdeclaration Classification of PVC Protector Tube - Preferential customs benefit and correct tariff classification - classifiable under CTH 39172310 or under CTH 40091100 - HELD THAT: - HSN and its Explanatory No... ... ...

Reverse burden u/s 123 for notified gold - Documentary provenance of domestically acquired gold jewellery - discharge of burden Confiscation and penalty in respect of a gold kada/bangle claimed to have been manufactured from domestically purchased 999-purity gold - applicability of the reverse burden u/s 123 and sufficiency of the appellant's documentary explanation - HELD THAT: - Invocation of the reverse burden requires tangible material supporting a reasonable belief that the notified ... ... ...

Duty-free shops-application of domestic regulatory laws to imported goods Duty-free shops-application of domestic regulatory laws to imported goods - Applicability of domestic regulatory laws to imported goods warehoused or sold through airport duty-free shops for re-export. - HELD THAT: - The fiscal treatment of transactions beyond the customs barrier does not confer blanket immunity from domestic regulatory or public-health laws. Goods brought into Indian territorial waters are imported goo... ... ...

Concealment penalty u/s 271(1)(c) on estimated bogus-purchase disallowance - Misreporting penalty u/s 270A(9)(c) on estimated inflated-purchase disallowance Levy of penalty u/s 271(1)(c) on disallowance of alleged bogus purchases quantified at 2 per cent on estimation - HELD THAT: - The quantum addition was retained only because the extent of inflated purchase expenditure could not be determined from available material and was therefore estimated at 2 per cent. Since the sustained disallowanc... ... ...

Assessment u/s 153A - Appellate duty to make further inquiry before invalidating a search assessment - Appellate fact-finding duty Further inquiry into validity of assessment under a corrected section 153A notice - Validity of an assessment made after issuance of a corrected notice u/s 153A, where the first appellate authority quashed the assessment without verifying the relevant chronology and assessment records - HELD THAT: - The material indicated that the initial proceedings had been drop... ... ...

Damaged guar gum inventory - valuation at lower of cost or net realisable value - Recorded cash sales - unexplained money u/s 69A Damaged guar gum stock - valuation at lower of cost or net realisable value - addition arising from revaluation of damaged guar gum closing stock - CIT(A) deleted addition - HELD THAT: - The Tribunal accepted that the assessee had followed the disclosed Accounting Standard-2 method of valuing inventory at cost or net realisable value, whichever was lower. Since the... ... ...

Deduction for children's tuition fees - House rent allowance exemption - Unexplained investment based on seized electronic records - Adequacy of opportunity in appellate proceedings Adequacy of opportunity in appellate proceedings - Challenge to the appellate disposal for assessment year 2020-2021 on the ground of inadequate opportunity of hearing - HELD THAT: - The record showed that four notices had been issued by the appellate authority, but the assessee did not comply with any of them... ... ...

Long-term capital gains from alleged penny-stock transactions - burden of proof - alleged accommodation entry - principal basis on which the addition has been sustained is that Lactose (India) Ltd. was allegedly one of the scrips used for providing accommodation entries and that the price movement of the scrip was not supported by the financial fundamentals of the company. HELD THAT: - The acquisition through a recognised broker, banking-channel payments, demat credit, sale through the recogn... ... ...

Unexplained cash credit from share transactions - Accommodation entries - corroboration of third-party statements HELD THAT: - A general statement of a third party and an investigation report may provide a starting point for enquiry, but cannot conclusively establish that an assessee was a beneficiary of accommodation entries without corroborative material. No direct material linked the assessee to such an arrangement; the documentary evidence of the transactions and banking movement remai... ... ...

Unexplained money u/s 69A - cash found in the assessee's vehicle - Onus to substantiate third-party ownership of cash found in assessee's vehicle HELD THAT: - Where cash recovered from the assessee's vehicle is claimed to belong to third parties, the assertion must be supported by particulars or evidence establishing their ownership and the source of the cash. The assessee neither produced the alleged farmers nor adduced evidence identifying them or substantiating their ownership,... ... ...

Taxation of profit embedded in unaccounted on-money receipts from sale of flats - Taxation of profit embedded in non-genuine steel purchases - Admissibility of search-seized electronic records and belated retraction of statements Taxation of profit embedded in unaccounted on-money receipts from sale of flats - Taxability of unaccounted cash receipts from sale of flats beyond the profit element embedded therein - HELD THAT: - Following the earlier coordinate decision in the assessee's own ... ... ...

Unpaid GST and service tax - disallowance u/s 43B - Interest on delayed TDS payment - deductibility as business expenditure Unpaid GST and service tax - disallowance under section 43B - Valuation of services under amended section 145A - Disallowance of GST and service tax collected from customers but paid after filing of the return - HELD THAT: - The amended section 145A requires valuation of purchase and sale of goods or services to include applicable tax, duty, cess or fee. The earlier posi... ... ...

Reassessment - reasons founded on incorrect facts - Reassessment on Investigation Wing information - independent application of mind - Unexplained cash credit - sale proceeds of disclosed investments Reassessment - reasons founded on incorrect facts - Investigation Wing information - independent application of mind - Validity of reassessments for assessment years 2011-12 and 2013-14 founded on factually incorrect recorded reasons and Investigation Wing information without independent applicat... ... ...

Revision u/s 263 - plausible view - Section 80G deduction for eligible CSR donations HELD THAT: - Explanation 2 to section 37(1) excludes corporate social responsibility expenditure from business deduction, but section 80G contains no corresponding embargo, apart from its specific statutory exclusions. Where a donation otherwise satisfies section 80G, its character as corporate social responsibility expenditure does not by itself disentitle the deduction. PCIT has proceeded on the premise ... ... ...

Registration of charitable institution u/s 12AB - Scope of enquiry into genuineness of charitable activities - Eligibility for approval u/s 80G following registration u/s 12AB Genuineness of charitable activities at registration stage - Registration proceedings distinguished from assessment proceedings - Rejection of registration under section 12AB of an institution conducting charitable medical eye camps on allegations of non-genuine activities and diversion of funds through salary, rent and... ... ...

Unexplained cash credit - capital introduced by partners in a partnership firm HELD THAT: - Where the firm explained that the credits represented capital contributed by its partners and the partners admitted the contributions, the Tribunal held that the inquiry into the source and creditworthiness of such capital could be undertaken only in the hands of the partners. The capital contributions could not be assessed as unexplained cash credits of the firm. [Paras 20] The addition was deleted... ... ...