Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Section 7 admission requires established financial debt and default, not precise interest quantification, while post-suspension defaults remain action...
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Inadvertent availment of common input service credit did not bar the higher rate of duty drawback where the CENVAT credit was reversed with interest before issuance of the show cause notice. Applying Chandrapur Magnet Wires and Precot Meridian, the HC treated the reversal as curing the prior availment for drawback purposes and rejected the argument that the Supreme Court authority lacked binding force. Emphasising the export-promoting object of drawback schemes, the Court held that a hyper-technical objection was unwarranted and set aside the revisional order, holding the exporter entitled to the applicable drawback rate for the relevant period.
Inadvertent availment of common input service credit did not bar the higher rate of duty drawback where the CENVAT credit was reversed with interest before issuance of the show cause notice. Applying Chandrapur Magnet Wires and Precot Meridian, the HC treated the reversal as curing the prior availment for drawback purposes and rejected the argument that the Supreme Court authority lacked binding force. Emphasising the export-promoting object of drawback schemes, the Court held that a hyper-technical objection was unwarranted and set aside the revisional order, holding the exporter entitled to the applicable drawback rate for the relevant period.
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