Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
CBIC amends the customs tariff-value notification under section 14(2) of the Customs Act, 1962 by substituting revised Tables 1 to 3 for edible oils, brass scrap, gold, silver and areca nuts. The notification keeps the tariff values unchanged for several items, including crude palm oil, palmolein, crude soya bean oil, brass scrap, gold covered by the specified import entries, and areca nuts, while setting tariff values for silver in specified forms at US$ 2,455 per kilogram and maintaining gold at US$ 1,508 per 10 grams for the listed categories. It takes effect from 20 May 2026.
CBIC amends the customs tariff-value notification under section 14(2) of the Customs Act, 1962 by substituting revised Tables 1 to 3 for edible oils, brass scrap, gold, silver and areca nuts. The notification keeps the tariff values unchanged for several items, including crude palm oil, palmolein, crude soya bean oil, brass scrap, gold covered by the specified import entries, and areca nuts, while setting tariff values for silver in specified forms at US$ 2,455 per kilogram and maintaining gold at US$ 1,508 per 10 grams for the listed categories. It takes effect from 20 May 2026.
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