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...
Notification amends the Central Excise exemption table by inserting new entries for 22%, 25%, 27% and 30% ethanol blended petrol, each classified under tariff heading 2710 12 and attracting Nil duty when the blend consists of the specified proportions of duty-paid motor spirit and ethanol and conforms to BIS specification IS 19850. It also expands Explanation 2 so that the newly inserted entries are covered for the purposes of the principal notification. The operative effect is to extend the excise exemption framework to the listed ethanol-blended petrol variants.
Notification amends the Central Excise exemption table by inserting new entries for 22%, 25%, 27% and 30% ethanol blended petrol, each classified under tariff heading 2710 12 and attracting Nil duty when the blend consists of the specified proportions of duty-paid motor spirit and ethanol and conforms to BIS specification IS 19850. It also expands Explanation 2 so that the newly inserted entries are covered for the purposes of the principal notification. The operative effect is to extend the excise exemption framework to the listed ethanol-blended petrol variants.
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