Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Export incentives under Drawback, RoDTEP and RoSCTL remain retainable only where export sale proceeds are realised within the FEMA time limit; if proceeds are not realised or are realised only partly, the corresponding incentive becomes recoverable with applicable interest from the scroll date. Exporters whose shipping bills are covered by the notice are asked to submit e-BRCs or supporting bank documents, or repay the ineligible or proportionate incentive amounts through ICEGATE online payment by the specified date. The notice also enables exporters to verify realisation status and seek rectification through the ICEGATE SB EDPMS facility, while failure to update realised proceeds may lead to recovery action treating them as non-realised exports.
Export incentives under Drawback, RoDTEP and RoSCTL remain retainable only where export sale proceeds are realised within the FEMA time limit; if proceeds are not realised or are realised only partly, the corresponding incentive becomes recoverable with applicable interest from the scroll date. Exporters whose shipping bills are covered by the notice are asked to submit e-BRCs or supporting bank documents, or repay the ineligible or proportionate incentive amounts through ICEGATE online payment by the specified date. The notice also enables exporters to verify realisation status and seek rectification through the ICEGATE SB EDPMS facility, while failure to update realised proceeds may lead to recovery action treating them as non-realised exports.
Note: It is a system-generated summary and is for quick reference only.
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