ITAT upholds Cash Sales of Business of Trading of Gold/Silver Jewellery during Demonetisation Period were Bonafide [Read Order]
The two member bench of Delhi Income Tax Appellate Tribunal ( ITAT ) upheld that cash sales of business of trading of gold /silver jewelry during the...
![Govt updates Customs Tariff Value of Palm Oil, Gold, Silver and Areca Nuts w.e.f. 16th April 2024 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/04/CBIC-Ministry-of-Finance-Customs-Tariff-Value-update-Customs-updates-taxscan.jpg "Govt updates Customs Tariff Value of Palm Oil, Gold, Silver and Areca Nuts w.e.f. 16th April 2024 [Read Notification]")
DGFT Greenlights India-UAE TRQ Holders to Utilise IIBX for Gold Imports, Ensures Physical Delivery via IFSCA Vaults in SEZs [Read Notification]
The Directorate General of Foreign Trade (DGFT), vide Notification No. 44/2023 dated November 20, 2023, has modified the import policy conditions for Gold under HS Code 71081200 in Chapter 71 of...
1.2 Kg Gold Seized Illegally From Sri Lankan Citizen: Madras HC Directs Customs Authority to Decide Matter [Read Order]
The Madras High Court directed the Customs authority to decide the matter as the department had illegally seized 1.2 Kg of gold from Sri Lankan Citizen. Mohamed Fazaldeen, the petitioner filed...
![1.2 Kg Gold Seized Illegally From Sri Lankan Citizen: Madras HC Directs Customs Authority to Decide Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Gold-Gold-Seized-Illegally-Gold-Seized-Illegally-From-Sri-Lankan-Citizen-Sri-Lankan-Citizen-taxscan.jpg "1.2 Kg Gold Seized Illegally From Sri Lankan Citizen: Madras HC Directs Customs Authority to Decide Matter [Read Order]")
Imported Gold Detained under Customs Act as Mis Declared Country in Origin Certificate: Madras HC directs to Release Goods after Paying 100% Duty [Read Order]
The Madras High Court directed the customs authority to release the detained gold after paying 100 % customs duty. The imported gold was detained under the Customs Act, of 1962 due to the...
![Imported Gold Detained under Customs Act as Mis Declared Country in Origin Certificate: Madras HC directs to Release Goods after Paying 100% Duty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Imported-Gold-Customs-Act-as-Mis-Country-in-Origin-Certificate-Madras-HC-Release-Goods-TAXSCAN.jpg "Imported Gold Detained under Customs Act as Mis Declared Country in Origin Certificate: Madras HC directs to Release Goods after Paying 100% Duty [Read Order]")
ED conducts Searches at Premises of Auditor and others in Tamil Nadu Illegal Sand Mining Case, seizes Cash and Gold worth ₹2.9 Crores in total
The Directorate of Enforcement (ED) had carried out searches at 34 locations including 8 sand mining yards on 12/09/2023 in 6 districts of Tamil Nadu, residential and business premises of ...
Drawback Benefit Available for Gold Exports Despite Non-Payment of Basic Customs Duty, Provided Additional Duty Paid u/s 3 of Customs Tariff Act During Import: Delhi High Court [Read Order]
The High Court of Delhi has held that exporters of gold dore bars are eligible for drawback benefits even if they did not pay Basic Customs Duty (BCD) at the time of import, provided they paid the...
![Drawback Benefit Available for Gold Exports Despite Non-Payment of Basic Customs Duty, Provided Additional Duty Paid u/s 3 of Customs Tariff Act During Import: Delhi High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Drawback-Benefit-Available-for-Gold-Exports-Despite-Non-Payment-of-Basic-Customs-Duty-Provided-Additional-Duty-Paid-Customs-Tariff-Act-During-Import-Delhi-High-Court-TAXSCAN.jpg "Drawback Benefit Available for Gold Exports Despite Non-Payment of Basic Customs Duty, Provided Additional Duty Paid u/s 3 of Customs Tariff Act During Import: Delhi High Court [Read Order]")
ITAT directs to compute addition towards 2% of Profit on Sale of Gold by assessee found during Search and Seizure [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi bench directed to compute addition towards 2% of profit on gold sold by assessee found during the course of search proceedings. During the ...
![ITAT directs to compute addition towards 2% of Profit on Sale of Gold by assessee found during Search and Seizure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-to-compute-addition-towards-Profit-on-Sale-of-Gold-by-assessee-found-during-Search-and-Seizure-TAXSCAN.jpg "ITAT directs to compute addition towards 2% of Profit on Sale of Gold by assessee found during Search and Seizure [Read Order]")