Educational approval requires mandatory State registration, but incidental surplus and trustee-owned land do not prove private benefit or profit motiv...
Judicial review of settlement orders cannot reopen settled customs notices, while statutory interest remains subject to verification and quantificatio...
Customs Broker licence lending for consideration justified revocation where exporter authorisation and client verification obligations were also breac...
Fraudulent import documents suspend limitation protection, while redemption of confiscated goods requires duty and interest despite bona fide purchase...
ODR arbitration participation remains mandatory after failed conciliation, while jurisdictional and maintainability objections stay available before t...
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The Tribunal upheld taxation under the concessional regime of section 115BAA and held that section 115JB could not be applied for the year in dispute. It accepted the first appellate authority's view that the assessee's option under section 115BAA was valid, and rejected the Revenue's objection based on the timing of filing Form 10-IC. The Tribunal also noted that the assessee had been processed under section 115BAA for three earlier years, and applied the principle of consistency to support the same tax treatment for the year under appeal. The Revenue's challenge was dismissed and the appellate relief was sustained.
The Tribunal upheld taxation under the concessional regime of section 115BAA and held that section 115JB could not be applied for the year in dispute. It accepted the first appellate authority's view that the assessee's option under section 115BAA was valid, and rejected the Revenue's objection based on the timing of filing Form 10-IC. The Tribunal also noted that the assessee had been processed under section 115BAA for three earlier years, and applied the principle of consistency to support the same tax treatment for the year under appeal. The Revenue's challenge was dismissed and the appellate relief was sustained.
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