Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
GST tariff classification of tobacco processed only by sprinkling jaggery water, without flavours or other additives, turned on the settled manufacture test: if the activity does not create a new product with a distinct name, character or use, the product remains unmanufactured tobacco. Following the earlier Division Bench and Pachiappa Chettiar, the Court treated the issue as identical, held the departmental reclassification unsustainable, and set aside the consequential demand, interest and penalty. The product was held classifiable under CETH 2401 20 90 so long as the process remains confined to that limited treatment.
GST tariff classification of tobacco processed only by sprinkling jaggery water, without flavours or other additives, turned on the settled manufacture test: if the activity does not create a new product with a distinct name, character or use, the product remains unmanufactured tobacco. Following the earlier Division Bench and Pachiappa Chettiar, the Court treated the issue as identical, held the departmental reclassification unsustainable, and set aside the consequential demand, interest and penalty. The product was held classifiable under CETH 2401 20 90 so long as the process remains confined to that limited treatment.
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