Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Religious purpose exclusion versus charitable purpose: non overriding religious objects do not attract Explanation 3, registration directed under sect...
Short deduction of tax at source did not warrant disallowance under section 40(a)(ia), and the related royalty-characterisation questions were treated as academic. Corporate guarantee commission was upheld at 0.5% because a corporate guarantee to an associated enterprise is not comparable to a bank guarantee, so no substantial question of law arose. On section 14A, where the assessee's own and other non-interest-bearing funds exceeded tax-free investments, a presumption arose that the investments came from interest-free funds, defeating interest disallowance under Rule 8D(2)(ii). Only the re-framed question under section 14A read with Rule 8D(2)(iii) concerning investments yielding exempt income during the year was entertained.
Short deduction of tax at source did not warrant disallowance under section 40(a)(ia), and the related royalty-characterisation questions were treated as academic. Corporate guarantee commission was upheld at 0.5% because a corporate guarantee to an associated enterprise is not comparable to a bank guarantee, so no substantial question of law arose. On section 14A, where the assessee's own and other non-interest-bearing funds exceeded tax-free investments, a presumption arose that the investments came from interest-free funds, defeating interest disallowance under Rule 8D(2)(ii). Only the re-framed question under section 14A read with Rule 8D(2)(iii) concerning investments yielding exempt income during the year was entertained.
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