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Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Rebate under section 87A was held available for Assessment Year 2024-25 to a resident individual opting for the new tax regime, even where total income included short-term capital gains taxed under section 111A. The Tribunal followed a co-ordinate Bench view on identical facts and accepted that, for that year, there was no express statutory bar in section 87A or section 111A denying rebate if the prescribed income threshold was satisfied. The later amendment was treated as prospective, so it did not apply to the year in question. Accordingly, the processing adjustment denying the rebate was deleted and the rebate claim was allowed.
Rebate under section 87A was held available for Assessment Year 2024-25 to a resident individual opting for the new tax regime, even where total income included short-term capital gains taxed under section 111A. The Tribunal followed a co-ordinate Bench view on identical facts and accepted that, for that year, there was no express statutory bar in section 87A or section 111A denying rebate if the prescribed income threshold was satisfied. The later amendment was treated as prospective, so it did not apply to the year in question. Accordingly, the processing adjustment denying the rebate was deleted and the rebate claim was allowed.
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