Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
Bank-specific tax claims were largely upheld: deduction for provision for bad and doubtful debts under section 36(1)(viia), tax treatment of unrealised foreign exchange forward contract gains, CSR expenditure, depreciation on ATMs as computers, depreciation on bank investment portfolio and leased assets, deduction for special reserve, accrual of interest on securities, and the inapplicability of minimum alternate tax to banking companies. On exempt income, the Tribunal accepted verification of own funds and recomputation of administrative disallowance for bank investments. Following binding precedent and no material factual change, the Revenue's appeal was dismissed and the appellate order was sustained on all contested issues.
Bank-specific tax claims were largely upheld: deduction for provision for bad and doubtful debts under section 36(1)(viia), tax treatment of unrealised foreign exchange forward contract gains, CSR expenditure, depreciation on ATMs as computers, depreciation on bank investment portfolio and leased assets, deduction for special reserve, accrual of interest on securities, and the inapplicability of minimum alternate tax to banking companies. On exempt income, the Tribunal accepted verification of own funds and recomputation of administrative disallowance for bank investments. Following binding precedent and no material factual change, the Revenue's appeal was dismissed and the appellate order was sustained on all contested issues.
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