Home Highlights April 2016 Year 2016 This

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1. Undervaluation - Imports of high-end foreign cars - The appellate tribunal noted that the assessable value was determined using various sources, including the car...

2. Smuggling - Burden of proof - Confiscation of Silver Jewellery, Silver Boondi & Indian Currency - The Tribunal's decision emphasized the lack of evidence and failure to...

3. Taxability of income in India - Proof of residence - assessee is a non-resident corporate entity incorporated under laws of Mauritius - The Tribunal held that the...

4. The Appellate Tribunal upheld the addition u/s 68 as the assessee failed to establish the identity, creditworthiness, and genuineness of transactions with Shri Singla...

5. Investigation revealed fraudulent Cenvat Credit claims involving fake invoices without actual supply of goods from April 2016 to June 2017. Evidence indicated non-supply...

6. 100% EOU - Confirmation of demand and levy of penalty - The Tribunal was right in stating that the intention of the assessee was not as that of an honest tax payer as...

7. Non-genuine creditors u/s 41(1) - proof of liability ceased to exist - Simply because, the assessee could not produce the confirmation from this party, the genuineness...

8. Addition u/s 68 - the Tribunal noted the extensive documentary evidence provided by the assessee to establish the legitimacy of the loan transactions. However, the AO...

9. Smuggling - foreign origin Gold - burden to prove - The tribunal clarified that the burden of proof under Section 123 of the Customs Act, 1962, solely rested on the...

10. Classification of supply of service - activity of bullet proof body building (in addition to fixing bullet proof windshield glass, bullet proofing of engine and fuel...

11. Scope of duty of RP - Seeking acceptance of the claims which had been rejected by the Resolution Professional - Proof of services provided and debts - The NCLAT held...

12. This case pertains to an alleged offense under FEMA involving bogus purported exports with inflated invoices to obtain export benefits, where the goods never reached the...

13. Immovable asset improvement cost disallowed due to lack of evidence. Assessee failed to prove expenditure incurred for improvement. Bills primarily in name of unrelated...

14. Unexplained cash credit being share capital and premium u/s 68 - director of the subscriber company did not appear in response to the summons issued u/s 131 - The...

15. Disallowance on an ad-hoc basis - in the absence of necessary documentary evidence the AO had no alternative except to make the disallowance on an ad-hoc basis.