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...
Re-imported goods may attract customs duty, but exemption under notifications issued for re-import can still apply where the importer establishes correlation with the originally exported goods and complies with the notified conditions. On the facts, the Tribunal accepted disclosure of the earlier shipping particulars, repayment of drawback with interest, movement under bond and customs sealing, and subsequent re-export under departmental supervision; the bond cancellation by the department meant alleged breach proceedings could not survive. It also held that the alternative drawback-linked exemption was available because the substantive conditions were met, and denial merely because it was not claimed in the bill of entry was impermissible. The duty demand, redemption fine and penalties were set aside.
Re-imported goods may attract customs duty, but exemption under notifications issued for re-import can still apply where the importer establishes correlation with the originally exported goods and complies with the notified conditions. On the facts, the Tribunal accepted disclosure of the earlier shipping particulars, repayment of drawback with interest, movement under bond and customs sealing, and subsequent re-export under departmental supervision; the bond cancellation by the department meant alleged breach proceedings could not survive. It also held that the alternative drawback-linked exemption was available because the substantive conditions were met, and denial merely because it was not claimed in the bill of entry was impermissible. The duty demand, redemption fine and penalties were set aside.
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